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junezz2000
Nov 3, 2007, 11:23 AM
If the year-end financial staement the income staement shoed net income of $23,700, and the balance sheet showed ending reained earnings of $91,000. The firm determined that adjustments should be made that would increase revenues by 5,000 and increase expenses by $8,400.

Calculate the amounts of net income and retained earnings after the adjustments are made.