Exhibit 2-1 $\begin{array}{lll}
\text { Total Liabilities } & \text { Total Assets } & \
\$ 60,000 & \$ 100,000 & \text { Beginning of the year } \
\$ 325,000 & \$ 500,000 & \text { End of the year }
\end{array}$
Refer to Exhibit 2-1. What is net income, assuming no stock was issued and no dividends were paid?
A) $215,000
B) $175,000
C) $135,000
D) $40,000

Question

Exhibit 2-1 $\begin{array}{lll}
\text { Total Liabilities } & \text { Total Assets } & \
\$ 60,000 & \$ 100,000 & \text { Beginning of the year } \
\$ 325,000 & \$ 500,000 & \text { End of the year }
\end{array}$
 Refer to Exhibit 2-1. What is net income, assuming no stock was issued and no dividends were paid?
A) $215,000
B) $175,000
C) $135,000
D) $40,000

Quizplus · Accepted Answer

The Answer of Exhibit 2-1 $\begin{array}{lll}
\text { Total Liabilities } & \text { Total Assets } & \
\$ 60,000 & \$ 100,000 & \text { Beginning of the year } \
\$ 325,000 & \$ 500,000 & \text { End of the year }
\end{array}$
 Refer to Exhibit 2-1. What is net income, assuming no stock was issued and no dividends were paid?
A) $215,000
B) $175,000
C) $135,000
D) $40,000

Exhibit 2-1 Refer to Exhibit 2-1