If at the end of a year, the company's total Assets are $10,100 and total Liabilities are $6,100, what should the company's Net income be to balance the Balance Sheet? Select one: A. Net Income is part of the Income Statement B. $16,200 OC. $4,000 D. Net Income is not part of a Balance Sheet.

If at the end of a year, the company's total Assets are $10,100 and total Liabilities are $6,100, what should the company's Net income be to balance the Balance Sheet? Select one: A. Net Income is part of the Income Statement B. $16,200 OC. $4,000 D. Net Income is not part of a Balance Sheet.

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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Question

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If at the end of a year, the company's total Assets are $10,100 and total Liabilities are $6,100, what should the
company's Net income be to balance the Balance Sheet?
Select one:
A. Net Income is part of the Income Statement.
B. $16,200
OC. $4,000
D. Net Income is not part of a Balance Sheet
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