hello teacher please solve questions Allen Marks is the sole stockholder and operator of Great Marks Company.As at December 31, 2013, Great Marks Company has assets of $916,956 andliabilities of $269,921. During 2014, Allen Marks purchased an additional$28,231 of capital stock and received $25,581 in cash dividends from thebusiness.What is the amount of net income of Great Marks Company during 2014,assuming that as of December 31, 2014, assets were $984,233, and liabilitieswere $232,804?Select the correct answer.a. $37,117b. $25,581c. $101,744d. $67,277

Step 1: Definition of Net IncomeNet income is the profit a company earns after deducting all…

Answered: Allen Marks is the sole stockholder and…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 18P

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