The total assets and the total liabilities of a business at the beginning and at the end of the year appear below. During the year, the company paid $55,000 in cash dividends and issued an additional $33,000 of capital stock.
Calculate the net income for the year.

Question

The total assets and the total liabilities of a business at the beginning and at the end of the year appear below. During the year, the company paid $55,000 in cash dividends and issued an additional $33,000 of capital stock.
  Calculate the net income for the year.

Quizplus · Accepted Answer

The Answer of The total assets and the total liabilities of a business at the beginning and at the end of the year appear below. During the year, the company paid $55,000 in cash dividends and issued an additional $33,000 of capital stock.
  Calculate the net income for the year.

The Total Assets and the Total Liabilities of a Business