Given the following information, determine net income. The capital balance on January 1, 20Y6, equals $25,000; investments and withdrawals during 20Y6 total $53,000 and $28,350, respectively;
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Colombo Enterprises has a defined benefit pension plan. At the end of the reporting year, the following data were available: beginning PBO, $78,000; service cost, $17,000; interest cost, $6,400; benefits paid for the year, $8,500;
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