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Business, 15.11.2019 03:31 kingrebl4267

At the end of its first month of operations, michael's consulting services reported net income of $27,100. they also had account balances of: cash, $19,400; office supplies, $2,350 and accounts receivable $10,700. the sole stockholder’s total investment in exchange for common stock for this first month was $5,350. there were no dividends in the first month.

calculate the amount of total equity to be reported on the balance sheet at the end of the month.

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