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Patriot paid dividends of 39000 during the year there were

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The following changes in Patriots Corp account balances occured during 2011 :

  • assets $267,000 increase
  • liabilities $81,000 increase
  • capital stock $198,000

Patriot paid dividends of $39,000 during the year. There were no changes in retained earnings for 2011 except dividends and net income. What was Patriots net income for 2011?

Reference no: EM13604044

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