The balance sheets of HR, Inc. reports total stockholders' equity of $550,000 and $750,000 at the beginning and end of the year, respectively. The return on equity for the year is 20%.  What is HR's net income for the year?

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Q: How much Net Income did the company earn during the year?

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A:

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A:

Q: Assuming that retained earnings is the only other equity account, then what did SI report for…

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