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Question: tara westmont the stockholder of tiptoe shoes inc had annual...

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Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $205,000, expenses of $113,700, The company paid $26,000 cash in dividends to the owner (sole shareholder). The retained earnings account before closing had a balance of $317,000. The Net Income for the year is: O $205,0oo O $91,300 O $408,300 O $382,300 O $65,300

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