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Author Question: Information for Snow Inc.'s first year of operations is presented below:Revenues$70,000Retained ... (Read 11516 times)

clippers!

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on: Feb 18, 2020
Information for Snow Inc.'s first year of operations is presented below:
Revenues$70,000​
Retained Earnings 12/31/20XX14,000​
Dividends  7,000​
What was Snow's net income for the year?
◦ $49,000
◦ $21,000
◦ $70,000
◦ Cannot be determined from the information given.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by clippers! on Feb 18, 2020

daiying98

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Reply #1 on: Feb 18, 2020
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