Dayton Industries' financial statements contained the following information: Accounts Receivable Sales Revenue Cash $8,500 $95,000 $22,000 Salaries and Wages Expense $31,500 Rent Expense $14,200 How much was Dayton's net income? a. $60,000 b. $49, 300 c. $65,000 d. $45,000

Dayton Industries' financial statements contained the following information: Accounts Receivable Sales Revenue Cash $8,500 $95,000 $22,000 Salaries and Wages Expense $31,500 Rent Expense $14,200 How much was Dayton's net income? a. $60,000 b. $49, 300 c. $65,000 d. $45,000

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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

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I need help with this general accounting question using standard accounting techniques.

Dayton Industries' financial statements contained the
following information:
Accounts Receivable
Sales Revenue
Cash
$8,500
$95,000
$22,000
Salaries and Wages Expense $31,500
Rent Expense
$14,200
How much was Dayton's net income?
a. $60,000
b. $49, 300
c. $65,000
d. $45,000

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