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20 November, 08:11

Finney Company began the year with retained earnings of $100,000. During 2022, the company issued $80,000 of common stock for cash. The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000. What was Finney's net income for the year 2022?

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  1. 20 November, 11:52
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    What was Finney's net income for the year 2022?

    Net Income 100000

    Explanation:

    Reveneus 740000

    Expenses 640000

    Net Income 100000

    Net income, also called net profit, is a calculation that measures the amount of total revenues that exceed total expenses. It other words, it shows how much revenues are left over after all expenses have been paid.
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