Answered: If Ivanhoe Company had net income of… | bartleby

FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

If Ivanhoe Company had net income of $627,000 in 2021 which reflected a 20% increase in net income over 2020, what was its 2020
net income? (Round answer to O decimal places, e.g. 5,250.)
Net income in 2020
$

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