Multiple Choice
Kennedy Company issued stock to Ed Kennedy in exchange for his investment of $75,000 cash in the business. The company recorded revenues of $555,000, expenses of $420,000, and had paid dividends of $30,000. What was Kennedy's net income for the year?
A) $105,000.
B) $135,000.
C) $165,000.
D) $180,000.
Correct Answer:
Verified
Correct Answer:
Verified
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