Multiple Choice
A new corporation ended its first year of operations with assets of $100,000,liabilities of $75,000,and contributed capital (common shares) of $10,000.What was the corporation's net income for the year?
A) $25,000.
B) $65,000.
C) $90,000.
D) $75,000.
E) $15,000.
Correct Answer:
Verified
Correct Answer:
Verified
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