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    Exam 1: Introduction to Financial Statements
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    Finney Company Began the Year by Issuing $40,000 of Common
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Finney Company Began the Year by Issuing $40,000 of Common

Question 56

Question 56

Multiple Choice

Finney Company began the year by issuing $40,000 of common stock for cash. The company recorded revenues of $370,000, expenses of $320,000, and paid dividends of $20,000. What was Finney's net income for the year?


A) $30,000
B) $70,000
C) $50,000
D) $90,000

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