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Lancome Co. went into business in 2014 when it issued common stock for a total of $12,000. No more stock has been issued since that
Lancome Co. went into business in 2014 when it issued common stock for a total of $12,000. No more stock has been issued since that time. Lancome started 2020 with $82,000 in assets and $47.000 in liabilities. During 2020 Lancome paid $14,000 in dividends. At December 31, 2020, Lancome had $97,000 in assets and $51,000 in liabilities. How much net income did Lancome earn during 2020? O $34,000 O $29,000 $37.000 $25,000 None of the above
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