Finney Company Began the Year with Retained Earnings of $100,000

question 54

Multiple Choice

Finney Company began the year with retained earnings of $100,000.During 2022, the company issued $80,000 of common stock for cash.The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000.What was Finney's net income for the year 2022?

• A)$60,000
• B)$140,000
• C)$100,000
• D)$180,000