The total assets and the total liabilities of a Kahn Jazz, Inc., at the beginning and at the end of the year appear below. During the year, the company paid $55,000 in cash dividends and issued an additional $33,000 of capital stock. Assets at Beginning and End of year, respectively, are $305,000 and $365,000. Liabilities at Beginning and End of year, respectively, are $200,000 and $230,000. The correct amount of Net Income or Net Loss for the year is:   Net Income of $52,000 Net Loss of $58,000 Net Income of $30,000 Net Income of $85,000

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A: Owners equity is the amount which belongs to the owners of the business.

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A:

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A:

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