Solved

Ending Liabilities Are 67,000,Beginning Equity Was $87,000,Common Stock Sold During

Question 179

Multiple Choice

Ending Liabilities are 67,000,Beginning Equity was $87,000,Common Stock sold during year totaled $31,000,Expenses for the year were $22,000,Dividends declared totaled $13,000,Ending Equity for the year is $181,000 and Beginning Assets for the year were $222,000.
What was Net Income for the year?


A) $ 41,000
B) $ 76,000
C) $ 53,000
D) $ 98,000
E) $ 35,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions