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.
$\begin{array}{llll}
& \text { Asssets } & \text { Liabilities } \
\text { Beginning of year }& \$ 305,000 & \$ 200,000 \
\text { End of year } & 365,000 & 230,000
\end{array}$
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.
 $\begin{array}{llll}
 & \text { Asssets } & \text { Liabilities } \
\text { Beginning of year }& \$ 305,000 & \$ 200,000 \
\text { End of year } & 365,000 & 230,000
\end{array}$ 
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.
 $\begin{array}{llll}
 & \text { Asssets } & \text { Liabilities } \
\text { Beginning of year }& \$ 305,000 & \$ 200,000 \
\text { End of year } & 365,000 & 230,000
\end{array}$ 
Calculate the net income for the year.

The Total Assets and the Total Liabilities of a Business