Frank Ito Began the Ito Company by Investing $20,000 of Cash

question 40

Multiple Choice

Frank Ito began the Ito Company by investing $20,000 of cash in the business. The company recorded revenues of $185,000, expenses of $160,000, and had owner drawings of $10,000. What was Ito's net income for the year?

• A) $15,000
• B) $35,000
• C) $25,000
• D) $45,000

---

Definitions:

Research

The systematic investigation and study of materials and sources in order to establish facts and reach new conclusions.

Relationship Maintenance

involves actions and strategies to keep a positive and ongoing connection with individuals or groups.

Stewardship

The responsible management and careful utilization of resources, often emphasizing sustainability and ethical practices.

Programming

The process of creating and scheduling content for television, radio, or online platforms, focusing on audience engagement and ratings.