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What amount of net income or net loss

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Question - On January 1, 2022, Sheridan Company reported owner's equity of $704600. During the year, the owner withdrew cash of $30500. At December 31, 2022, the balance in owner's equity was $825700. What amount of net income or net loss would the company report for 2022?

a. Net loss of $90600

b. Net income of $211700

c. Net income of $151600

d. Net income of $121100

Reference no: EM133026964

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