Coronado Industries began the year by issuing $103000 of common stock for cash. The company recorded revenues of $1152000,expenses of $966000, and paid dividends of $75000. What was Coronado's net income for the year?$214000$111000$289000$186000

Net Income is the difference between the sales revenue and the total Expenses. Sales Revenue =…

Answered: Coronado Industries began the year by…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Coronado Industries began the year by issuing $103000 of common stock for cash. The company recorded revenues of $115200 expenses of $966000, and paid dividends of $75000. What was Coronado's net income for the year? Ⓒ$214000 $111000 O $289000 $186000