Lankston Company began the year by issuing $90,000 of common stock for cash. The company recorded revenues of $825,000, expenses of $720,000, and paid dividends of $45,000. What was Lankston's net income for the year?
A) $60,000
B) $150,000
C) $105,000
D) $195,000

Question

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The Answer of Lankston Company began the year by issuing $90,000 of common stock for cash. The company recorded revenues of $825,000, expenses of $720,000, and paid dividends of $45,000. What was Lankston's net income for the year?
A) $60,000
B) $150,000
C) $105,000
D) $195,000

Lankston Company Began the Year by Issuing $90,000 of Common