Vaughn Manufacturing began the year with retained earnings of $114000. During 2022, the company issued $84500 of common stock fo

Question

2 years ago

8

Vaughn Manufacturing began the year with retained earnings of $114000. During 2022, the company issued $84500 of common stock fo

r cash. The company recorded revenues of $735000, expenses of $647000, and paid dividends of $36000. What was Vaughn's net income for the year 2022?
$136500

$172500

$88000

$52000

Business

1 answer:

il63 [147K] · Answer 1 · 2023-10-09T02:17:56+03:00

The net income for the year 2022 is: c. $88,000.

<h3>Net income for the year 2022</h3>

Using this formula

Net income=Revenues - Expenses

Let plug in the formula

Net income=$735,000-$647,000

Net income=$88,000

Therefore the correct option is c.

Learn more about net income here:brainly.com/question/15530787

#SPJ1