During 2019, Moore Corporation paid $20,000 of dividends. Moore's assets, liabilities, and common stock at the end of 2018 and 2019 were: 12/31/2018 12/31/2019 Total assets $152,200 $171,800 Total liabilities 56,600 63,750 Common shares 60,000 60,000 Required: Using the information provided, compute Moore's net income for 2019.
During 2019, Moore Corporation paid $20,000 of dividends. Moore's assets, liabilities, and common stock at the end of 2018 and 2019 were: 12/31/2018 12/31/2019 Total assets $152,200 $171,800 Total liabilities 56,600 63,750 Common shares 60,000 60,000 Required: Using the information provided, compute Moore's net income for 2019.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During 2019, Moore Corporation paid $20,000 of dividends. Moore's assets, liabilities, and common stock at the end of 2018 and 2019 were:
| 12/31/2018 | 12/31/2019 | |||
| Total assets | $152,200 | $171,800 | ||
| Total liabilities | 56,600 | 63,750 | ||
| Common shares | 60,000 | 60,000 |
Required:
Using the information provided, compute Moore's net income for 2019.
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