Use the Following Information for Questions

question 52

Multiple Choice

Use the following information for questions
Plumbers-on-the-Go Ltd.started the year with total assets of $120,000 and total liabilities of $75,000.During the year, the business recorded $82,000 in service revenues, $45,000 in expenses, and paid dividends of $2,500.
-The net income reported for the year was

• A)$34,500.
• B)$37,000.
• C)$45,000.
• D)$82,000.

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