financial accounting questions 10

Aqua Products offers water purifying solutions. At the end of the current period, the company reports the following amounts: Assets = $90,000; Liabilities = $40,000; Dividends = $3,000; Revenues = $20,000; Expenses = $12,000.

Required:

  1. Calculate net income.
  2. Calculate stockholders’ equity at the end of the period.

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