Blossom Company began the year with retained earnings of $398,000. During the year, the company recorded revenues of $494,000 and expenses of $382,000. It also paid dividends of $42,500. What was Blossom's net income for the year?

Blossom Company began the year with retained earnings of $398,000. During the year, the company recorded revenues of $494,000 and expenses of $382,000. It also paid dividends of $42,500. What was Blossom's net income for the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Hii expert please provide correct answer general Accounting

Blossom Company began the year with retained earnings
of $398,000. During the year, the company recorded
revenues of $494,000 and expenses of $382,000. It also
paid dividends of $42,500. What was Blossom's net
income for the year?

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