The net income reported on the income statement for the current year was $210,000.Depreciation recorded on equipment and a building amount to $62,500 for the year.Balances of the current assets and current liabilities accounts at the beginning and end of the year are as follows:

Question

The net income reported on the income statement for the current year was $210,000.Depreciation recorded on equipment and a building amount to $62,500 for the year.Balances of the current assets and current liabilities accounts at the beginning and end of the year are as follows:​​  ​

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The Answer of The net income reported on the income statement for the current year was $210,000.Depreciation recorded on equipment and a building amount to $62,500 for the year.Balances of the current assets and current liabilities accounts at the beginning and end of the year are as follows:​​  ​

The Net Income Reported on the Income Statement for the Current