Question
A company reported the following asset and liability balances at the end of 2013 and 2014: During 2014, cash dividends of $50,000 were declared and
A company reported the following asset and liability balances at the end of 2013 and 2014: During 2014, cash dividends of $50,000 were declared and paid, and common stock was issued for $100,000. How much was the 2014 net income?
| A. | $400,000 |
| B. | $480,000 |
| C. | $350,000 |
| D. | $300,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Management Information Systems Managing the Digital Firm
Authors: Kenneth C. Laudon, Jane P. Laudon
15th edition
134639715, 978-0134639710
