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What was the amount of net income earned by jerry butcher

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Reference no: EM132517174

Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:

                                                 Assets            Liabilities

Beginning of the year        $114,000                  $68,000

End of the year              135,000                    73,000

Question 1: If Jerry invested an additional $12,000 in the business and withdrew $5,000 during the year, what was the amount of net income earned by Jerry's Butcher Shop?

Reference no: EM132517174

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