During 2018, Dalton Enterprisesearned revenues of $95,000, hadexpenses of $72,000, purchasedassets costing $10,500, and paiddividends of $7,200.What was Dalton Enterprises' netincome for the year?

Concept of Net IncomeNet Income, also known as net profit, represents the total earnings of a…

Answered: During 2018, Dalton Enterprises earned…

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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During 2018, Dalton Enterprises earned revenues of $95,000, had expenses of $72,000, purchased assets costing $10,500, and paid dividends of $7,200. What was Dalton Enterprises' net income for the year?