What was the net income for the year? During 2018, Dawson Enterprisesearned revenues of $120,000, hadexpenses of $85,000, purchasedassets with a cost of $15,000, andpaid dividends of $8,000.What was the net income for theyear?

Explanation of Net Income: Net income represents the company's total earnings or profit calculated…

Answered: During 2018, Dawson Enterprises earned…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

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Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 1P

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During 2018, Dawson Enterprises earned revenues of $120,000, had expenses of $85,000, purchased assets with a cost of $15,000, and paid dividends of $8,000. What was the net income for the year?