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Kamil's Car Repair Shop Ltd

Question 40
Multiple Choice
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Multiple Choice

Kamil's Car Repair Shop Ltd. started the year with total assets of $70,000 and total liabilities of $40,000. During the year, the business recorded $100,000 in car repair revenues, $65,000 in expenses, and dividends of $5,000. Shareholders' equity at the end of the year was

A) $60,000.
B) $65,000.
C) $70,000.
D) $75,000.

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