Use the following information to calculate for the year ended December 31, 2015 (a) net income, (b) ending retained earnings, and (c) total assets.

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Use the following information to calculate for the year ended December 31, 2015 (a) net income, (b) ending retained earnings, and (c) total assets.

Supplies $ 3,000

Revenues $25,000

Operating expenses 12,000

Cash 15,000

Accounts payable 9,000

1,000

Accounts receivable 3,000

Notes payable

5,000

Equipment

Net income

$

(b)

$

(c)

Total assets

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