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?

What was Finney’s net income for the year 2022?

Net Income    100000

Explanation:

Reveneus740000

Expenses640000

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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