The year-end 2018 balance sheet of Brandex Inc. listed common stock and other paid-in capital at $1,400,000 and retained earnings at $3,700,000. The next year, retained earnings were listed at $4,000,000. The firm's net income in 2019 was $930,000.
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Inc. (WFI). After liquidating its remaining inventory and paying off its remaining liabilities, WFI had the following tax accounting balance sheet: FMV Adjusted Basis Appreciation Cash $ 200,000 $ 200,000 Building 50,000 10,000 40,000 Land 150,000
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