HOW DO I find the net icome for this company with this information?
Beginning of the year: ASSETS WERE
$810,000 lIABILTES WERE:$324,000
eND OF YEAR: aSSETS WERE: $1,296,000 AND lIABILTES WERE:$540,000.
cAPITAL STOCK OF $162,000 WAS ISSUSED
dIVIDENDS OF $72,OOO WERE PAID
To find the net income for the company, you need to understand the basic formula for calculating net income:
Net Income = Revenues - Expenses
However, the information you provided does not include any details about the revenues or expenses of the company. As a result, we cannot directly calculate the net income using the given information.
Net income is typically derived from the company's income statement, which provides a breakdown of revenues and expenses. This statement includes information about sales, cost of goods sold, operating expenses, and other income or expenses.
If you have access to the company's income statement, you can find the net income by subtracting the total expenses from the total revenues. The resulting figure is the net income for the specified period.
Without the income statement information, it is not possible to determine the net income of the company based solely on the given data.