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Discuss what was xanadus net income for the year

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Reference no: EM131810445

Xanadu Corporation has $100,000 in assets and $30,000 in liabilities at the beginning of the year. At the end of the year, Xanadu has $120,000 in assets and $35,000 in liabilities. During the year, the company paid dividends of $10,000 and issued stock in the amount of $5,000. What was Xanadu's net income for the year?

Reference no: EM131810445

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