Tuesday 9 October 2012

Finney Company began the year by issuing $20,000 of common stock for cash. The

Finney Company began the year by issuing $20,000 of common stock for cash. The company recorded revenues of $185,000, expenses of $160,000, and paid dividends of $10,000. What was Finney’s net income for the year?


$15,000

 


$35,000

 


$45,000

 


$25,000



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