During the year, fastdry corporation has $ 340,000 in revenues, $ 155,000 in expenses, and $ 12,000 in dividend declarations and payments. net income for the year was:

$185,000

Step-by-step explanation:

We have been been given that during the year, Fast Dry Corporation has $ 340,000 in revenues, $ 155,000 in expenses, and $ 12,000 in dividend declarations and payments.

We will use following formula to solve our given problem.

Therefore, the net income for the year was $185,000.