Question
A company reported the following asset and liability balances at the end of 2013 and 2014: 2013 2014 Total Assets 6,680,000 7,420,000 Total Liabilities 3,420,000
A company reported the following asset and liability balances at the end of 2013 and 2014:
|
| 2013 | 2014 |
| Total Assets | 6,680,000 | 7,420,000 |
| Total Liabilities | 3,420,000 | 3,820,000 |
During 2014, cash dividends of $60,000 were declared and paid, and common stock was issued for $200,000. How much was the 2014 net income?
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Cloud 9 Pty Ltd An Audit Case Study
Authors: John Wiley
1st Edition
0730329879, 978-0730329879
