Question

During the​ year, EcoWash Corporation has $ 310 comma 000 in​ revenues, $ 95 comma 000 in​ expenses, and $ 6 comma 000 in dividend declarations and payments. Net income for the year​ was:

Answer 1

Answer:

$215,000

Explanation:

Given that,

EcoWash Corporation has:

Revenues = $310,000

Expenses = $95,000

dividend declarations and payments = $6,000

Hence, the net income is determined by subtracting expenses from the revenues.

Net income:

= Revenues - Expenses

= $310,000 - $95,000

= $215,000

Therefore, the EcoWash Corporation has a net income of $215,000 for the year.