Use the following information to calculate the net income for Tornado.pdf

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Use the following information to calculate the net income for Tornado Corporation: At the end of last year, Tornado had total assets of $155,000, total liabilities of $85,000, and total stockholder's equity of $70,000. Assets increased $25,000 and the company added $15,000 in debt during the year. The only equity account that changed was retained earnings and no dividends were paid. Show your work..

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