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Unformatted text preview: Goodwill 105,000 Common Stock 110,000 Trade Names 200,000 Retained Earnings 229,000 Total Intangible Assets 305,000 Less: Treasury Stock (50,000) Total Stockholders' Equity 289,000 Other Assets 3,000-Total Assets $770,000 Total Liabilities & Stockholders' Equity $770,000 (Computation of Net Income) Presented below are changes in all the account balances of Fred Reed Company during the current year, except for retained earnings. (Decrease) Cash Accounts Receivable (net) Inventory Investments Compute the net income for the current year assuming that there were no entries in retained earnings account except for net income and a dividend declaration of $19,000 which was paid in the current year....
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This note was uploaded on 03/30/2010 for the course ACC 201 taught by Professor Smith during the Spring '10 term at Indiana Institute of Technology.
- Spring '10
- Balance Sheet