INCOME STATEMENT An analysis of the transactions of Canary Cola, Inc., for the year 2009 yields the
Question:
INCOME STATEMENT An analysis of the transactions of Canary Cola, Inc., for the year 2009 yields the following information: revenue, $70,000; supplies expense, $30,900; rent expense, $24,000;
and dividends, $7,000.
Required:
What is the amount of net income reported by Canary Cola for 2009?
Cornerstone Exercise
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Related Book For
Cornerstones Of Financial Accounting Current Trends Update
ISBN: 9781111527952
1st Edition
Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen
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