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Below is information taken from XYZ's financial statements for the first two years of business operations. During 2020, the company neither issued shares nor
Below is information taken from XYZ's financial statements for the first two years of business operations. During 2020, the company neither issued shares nor acquired shares in the portfolio. Information from the Statement of Financial Position31/12/1931/12/20 Total Assets (Total Assets) Total Debts (Total Liabilities) $15,000 $24,000 5,000 8,000 10,000 16,000 Owners' capital (Total Owner's equity) Data for the period ending on31/12/1931/12/20 Ingreso Integral (Comprehensive Income) 6,000 8,000 Otro Ingreso Integral (Other Comprehensive Income) 1,000 1,000 Declared dividends (Dividends) 0 2,000 Based on the data provided, how much was the Net Income for 2020? Select one: O a. $5,000 O b. $8,000 Oc. $6,000 O d. $7,000
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