Flitter reported net income of $25,000 for the past year. at the beginning of the year the company had $215,000 in assets and $65,000 in liabilities. by the end of the year, assets had increased to $315,000 and liabilities were $90,000.
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Given the following information, determine net income. The capital balance on January 1, 2016, equals $25,000; investments and withdrawals during 2016 total $53,000 and $28,350, respectively;
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