Determine net income for its first year of operations

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Reference no: EM131222630

Stanton Corp. began operations on January 1, 2016. The statement of cash flows for the first year reported dividends paid of $208,000. The balance sheet at the end of the first year reported $83,000 in dividends payable and $401,000 in ending retained earnings.

Determine Stanton's net income for its first year of operations.

Reference no: EM131222630

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