The following information applies to the questions displayed below.) Waldorf Co. had the following transactions during the month of October 2018: (1) Cash received from bank loans was $60,000. (2) Dividends of $18,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $100,500. (4) Expenses incurred and paid were $78,000. What amount of net income will be reported on an income statement for the month of October?
a. $100,500.
b. $ 78,000.
c. $ 22500
d. $ 18,500.
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