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Question(s) / Instruction(s):

ACCT 2121 Tree Company had assets of $23,000 at the beginning of the year. It also had a balance of $5,000 in Contributed Capital and $8,000 in Retained Earnings. During the year, Tree Company had revenues of $72,000 and expenses of $58,000.

Tree Company sold $3,000 in stock. (That would increase Contributed Capital.) They paid out $1,000 in dividends and liabilities increased by $4,000. What were total assets at the end of the year? 

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