Dena, Inc Began Operations During 2010 $\bullet$ Received $80,000 from Shareholders as Initial Investments

question 7

Essay

Dena, Inc. began operations during 2010. During January of 2010, the following transactions occurred:
$\bullet$ Received $80,000 from shareholders as initial investments
$\bullet$ Received cash of $50,000 for services performed during January
$\bullet$ Billed customers an additional $12,000 for services performed during January
$\bullet$ Borrowed $12,000 from NationsBank Company, and signed a one-year note payable
$\bullet$ Paid rent in the amount of $5,000 for January
$\bullet$ Paid dividends in January amounting to $8,000
$\bullet$ Paid wages of $35,000 for January
How much Net Income should Dena, Inc. report for January?

---

Definitions:

Interracial Marriage

A marriage between spouses who belong to different racial groups, often viewed as a measure of social integration and tolerance.

African Americans

Refers to citizens or residents of the United States who have total or partial ancestry from any of the black racial groups of Africa.

Symbolic Interaction Theory

A sociological perspective emphasizing how individuals interpret and give meaning to social symbols in the context of their interactions.

Social Identities

are aspects of an individual's identity derived from their social group memberships, such as race, ethnicity, gender, religion, and cultural background, shaping how they perceive themselves and are perceived by others.