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Determine the net income when no additional investment

Response to the following problem:

Torchwood Enterprises had a capital balance of $168,000 at the beginning of the period. At the end of the accounting period, the capital balance was $198,000.

(a) Assuming no additional investment or withdrawals during the period, what is the net income for the period?

(b) Assuming an additional investment of $13,000 but no withdrawals during the period, what is the net income for the period?

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Financial Accounting: Determine the net income when no additional investment

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