Q11

11 During the first year of operations, a company sold $101,000 of goods to customers and received $90,500 in cash from customers. The remainder is owed to the company at the end of the year. The company incurred $70,100 in expenses for the year and paid $65,100 in cash for these expenses. The remainder is owed by the company at the end of the year. Based on this information, whot is the amount of net income for the year? BON Multiple Choice $20.400 $30.900 $25,400 $35,000