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    kmgj's Avatar
    kmgj Posts: 1, Reputation: 1
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    #1

    Sep 3, 2013, 08:37 PM
    Assets were $1,500,000, liabilities were $375,000, and there were no additional inves
    Assets were $1,500,000, liabilities were $375,000, and there were no additional investments or withdrawals What is the net income amount?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Sep 4, 2013, 08:39 AM
    With just the information provided you only have enough to solve for Equity. Equity = Assets - Liabilities

    There should be more information in your problem that was is listed.
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