Company A started the year with total assets of $300,000 and total liabilities of $240,000. During...
Company A started the year with total assets of $300,000 and total liabilities of $240,000. During the year, the business recorded $570,000 in revenues, $330,000 in expenses, and dividends of $60,000. The net income reported by Jimmy's Repair Shop for the year was
Group of answer choices
A)$180,000.
B)$570,000.
C)$240,000.
D)$300,000.
Homework Answers
Net income is equal to=Revenue-Expenses
=570,000-330,000
which is equal to
=$240,000
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Company A started the year with total assets of $300,000 and
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