Jimmy's Repair Shop started the year with total assets of $300,000 and total liabilities of $240,000.During the year, the business recorded $630,000 in revenues, $330,000 in expenses, and dividends of $60,000.The net income reported by Jimmy's Repair Shop for the year was
A)$240,000.
B)$300,000.
C)$180,000.
D)$570,000.

Question

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The Answer of Jimmy's Repair Shop started the year with total assets of $300,000 and total liabilities of $240,000.During the year, the business recorded $630,000 in revenues, $330,000 in expenses, and dividends of $60,000.The net income reported by Jimmy's Repair Shop for the year was
A)$240,000.
B)$300,000.
C)$180,000.
D)$570,000.

Jimmy's Repair Shop Started the Year with Total Assets of $300,000