Modern Resorts received $72,000 cash from its investors in exchange for shares of the companys stock.

During the same year, Modern received cash from customers for hotel rooms totaling $820,000, and distributed cash dividends to shareholders totaling $100,000.

How much is the net effect of the three events on the companys income statement?

Select one:

a. 720,000

b. 820,000

c. 748,000

d. 638,000