Question

Baldwin Corporation began the year with cash of $32,000 and a computer that cost $19.000. During the year, Baldwin eamed sales revenue of $140.000 and had the foowing expenses salaries 565.000 rent, 39.500, and $4.500. At year-end, Baldwin's cash balance was down to $12,000. How much net income for netos) did Baldwin experience for the year? O A $140,000 OB. $(20,000) OC. $61,000 OD. $106.000

Answer 1

Sales revenue = $140,000

Salaries expense = $65,000

Rent expense = $9,500

Utilities expense = $4,500

Income statement

Sales revenue	140,000
Expenses:
Salaries expense	- 65,000
Rent expense	- 9,500
Utilities expense	- 4,500
Net income	$61,000

Net income = $61,000

Correct option is (C)

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