Below Is Accounting Information for Cascade Company for 2010 What Was Net Income for the Year?
A)$320,000
B)$296,000
C)$100,000

Multiple Choice

Below is accounting information for Cascade Company for 2010:
$$\begin{array} { | l | l | } \hline \text { Revenue } & \$ 416,000 \\\hline \text { Cash } & \$ 120,000 \\\hline \text { Common Stock } & \$ 200,000 \\\hline \text { Expenses } & \$ 300,000 \\\hline \text { Equipment } & \$ 240,000 \\\hline \text { Accounts Receivable } & \$ 35,000 \\\hline \text { Notes Payable } & \$ 50,000 \\\hline \text { Notes Receivable } & \$ 62,000 \\\hline\end{array}$$
What was Net Income for the year?

A) $320,000
B) $296,000
C) $100,000
D) $457,000
E) $116,000