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Homework answers / question archive / Calculate net income from following information pertaining to Edson Company
Calculate net income from following information pertaining to Edson Company.
|
Assets, January 1 |
$240,000 |
|
Assets, December 31 |
230,000 |
|
Liabilities, January 1 |
150,000 |
|
Share capital, December 31 |
80,000 |
|
Retained earnings, December 31 |
31,000 |
|
Ordinary shares sold during the year |
10,000 |
|
Dividends declared during the year |
13,000 |
Compute the net income for the year.
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