Answered: During 2018, Dawson Enterprises earned…

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?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

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?

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