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As of year-end, Tribs Kitchen Cleaning Service reported total liabilities amounting to 660,000 and capital balance amounting to 500,000. Throughout the year, total assets were
As of year-end, Tribs Kitchen Cleaning Service reported total liabilities amounting to 660,000 and capital balance amounting to 500,000. Throughout the year, total assets were claimed to have increased by 125,000 and total liabilities by 190,000. Trib also made withdrawals for personal use amounting to 60,000.
Compute:
- net income during the year
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