High Step Shoes,had Annual Revenues of $185,000,expenses of $103,700,and Paid

question 46

Multiple Choice

High Step Shoes,had annual revenues of $185,000,expenses of $103,700,and paid dividends of $18,000 during the current year.The retained earnings account before closing had a balance of $297,000.The Net Income for the year is:

• A)$185,000
• B)$63,300
• C)$81,300
• D)$360,300
• E)$378,300

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Definitions:

State Lawmakers

are elected officials at the state level responsible for creating and amending state laws and regulations.

Neutral

In the context of labor relations, this refers to a party or individual who does not show bias to either side in negotiations, disputes, or conflicts.

Mediation

The process of resolving conflicts through the assistance of a neutral facilitator who helps the disputing parties reach a consensus.

Mutually Acceptable Agreement

An agreement reached through negotiation or mediation that is satisfactory to all parties involved.