High Step Shoes had annual revenues of $194,000 and expenses of $106,200, and the company paid dividends of $21,600 during the current year. The retained earnings account before closing had a balance of $308,000. What is the net income for the year?

High Step Shoes had annual revenues of $194,000 and expenses of $106,200, and the company paid dividends of $21,600 during the current year. The retained earnings account before closing had a balance of $308,000. What is the net income for the year?

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 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Don't use ai solution please given correct answer general Accounting

High Step Shoes had annual revenues of $194,000 and
expenses of $106,200, and the company paid dividends of
$21,600 during the current year. The retained earnings
account before closing had a balance of $308,000. What
is the net income for the year?

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