The balance of stockholders' equity at the beginning of the year and the end of the year was $50,000 and $60,000, respectively. The company issued no common stock during the year. Dividends were $20,000. What was the net income or loss for the year?
A) Net income of $80,000
B) Net loss of $80,000
C) Net loss of $30,000
D) Net income of $30,000
D .Stockholders' equity at the end of the year $60,000
Add: Dividends 20,000
$80,000
Less: Stockholders' equity at the beginning of the year (50,000 )
Net income $30,000
You might also like to view...
For ________ pricing to be effective, there must be sufficient customers willing to buy the product at the high initial price, they should interpret that high price as signifying high quality, and that high price should not attract competition.
a. bribery b. extortion c. illegal gratuity d. skimming
Marketing prescriptive models can be used to:
a. Identify which customer segments will be most profitable. b. Determine whether to continue promotional spending in order to generate future sales. c. Determine whether to curtail spending and allocate marketing resources to more profitable customer targets. d. All of the above