Multiple Choice
Lankston Company began the year by issuing $120,000 of common stock for cash.The company recorded revenues of $1,100,000, expenses of $960,000, and paid dividends of $60,000.What was Lankston's net income for the year?
A) $80,000
B) $200,000
C) $140,000
D) $260,000
Correct Answer:
Verified
Correct Answer:
Verified
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