Dena, IncBegan Operations During 2010

Short Answer

Dena, Inc.began operations during 2010.During January of 2010, the following transactions occurred:
·Received $80,000 from shareholders as initial investments
·Received cash of $50,000 for services performed during January
·Billed customers an additional $12,000 for services performed during January
·Borrowed $12,000 from NationsBank Company, and signed a one-year note payable
·Paid rent in the amount of $5,000 for January
·Paid dividends in January amounting to $8,000
·Paid wages of $35,000 for January
How much Net Income should Dena, Inc.report for January?