a1 company began the year with retained earnings of $100,000. during 202x, the company issued $80,000 of…

a1 company began the year with retained earnings of $100,000. during 202x, the company issued $80,000 of common stock for cash. the company recorded\n• revenues of $740,000,\n• expenses of $640,000, and\n• paid dividends of $40,000.\nwhat was a1s net income for the year 202x? select answer from the options below.\n(a) $60000\n(b) $180000\n(c) $140000\n(d) $100000

a1 company began the year with retained earnings of $100,000. during 202x, the company issued $80,000 of common stock for cash. the company recorded\n• revenues of $740,000,\n• expenses of $640,000, and\n• paid dividends of $40,000.\nwhat was a1s net income for the year 202x? select answer from the options below.\n(a) $60000\n(b) $180000\n(c) $140000\n(d) $100000

Answer

Explanation:

Step1: Recall net - income formula

Net income = Revenues - Expenses

Step2: Substitute given values

Net income=$740000 - 640000$

Answer:

$100000$, D. $100000$