Question
Carpenter Carpet Company issued stock to Ted Carpenter in exchange for his investment of $25,000 cash in the business. The company recorded revenues of $185,000,
| Carpenter Carpet Company issued stock to Ted Carpenter in exchange for his investment of $25,000 cash in the business. The company recorded revenues of $185,000, expenses of $140,000, and had paid dividends of $10,000. What was Carpenter Carpet Company's net income for the year? |
Group of answer choices
A. $60,000
B. $45,000
C. $35,000
D. $55,000
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The Essential Handbook Of Internal Auditing
Authors: K. H. Spencer Pickett
1st Edition
0470013168, 978-0470013168
