David's Skates had the following balances on  its balance sheet on December 31, 2020.  In addition, David paid dividends of $5,000 and the retained earnings balance at the beginning of 2020 is $135,000.  What is David's net income for the year 2020?     Debit Credit Cash 125,000   Accounts receivable 40,000   Inventory 350,000   Fixed Assets 50,000   Accounts payable   80,000 Notes payable – due 2023   250,000 Common stock   10,000 Retained earnings – 12/31/2020   225,000 Total 565,000 565,0

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.