Answered: Use the following appropriate amounts…

Use the following appropriate amounts to calculate net income: Revenues $12,800 = • Expenses = $6,900 . Liabilities $3,400 . Assets $16,000 Dividends $1,600 What is the net income?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

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Question

I am looking for the correct answer to this general accounting question with appropriate explanations.

Use the following appropriate amounts to calculate net
income:
Revenues $12,800
=
•
Expenses = $6,900
.
Liabilities $3,400
.
Assets $16,000
Dividends $1,600
What is the net income?

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