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The Net Income Reported on the Income Statement for the Current

Question 32

Multiple Choice

The net income reported on the income statement for the current year was $310,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:


A) $233,000
B) $289,000
C) $387,000
D) $331,000

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