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Corresponds to CLO 1(c) Tulsa Corporation began the year by issuing $100,000 of common stock for cash. The company recorded revenues of $250,000, expenses of $125,000, and paid dividends of $20,000. What was Tulsa's net income for the year?

  • 250,000
  • 105,000
  • 205,000
  • 125,000
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