Pharoah Company issued stock to Ed Pharoah in exchange for his investment of $74500 cash in the business. The company recorded revenues of $556000, expenses of $419000, and had paid dividends of $29500. What was Pharoah's net income for the year?

Multiple Choice Question 144 Pharoah Company issued stock to Ed Pharoah in exchange for his investment of $74500 cash in the business. The company recorded revenues of $556000, expenses of $419000, and had paid dividends of $29500. What was Pharoah's net income for the year? O $137000. O $166500. $182000. $104000