Yowell Company Began Operations on January 1, Year 1

question 49

Multiple Choice

Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $80,0002) borrowed $65,000 from its bank3) provided consulting services for $78,0004) paid back $35,000 of the bank loan5) paid rent expense for $19,0006) purchased equipment costing $32,0007) paid $5,000 dividends to stockholders8) paid employees' salaries for work completed during the year, $41,000What is Yowell's net income?

• A)$40,000
• B)$18,000
• C)$14,000
• D)$59,000

---

Definitions:

Sheaths

Protective coverings or casings, often used for medical catheters, wires, or instruments to prevent infection and aid in insertion.

Bronchoscopy

A diagnostic and therapeutic procedure that allows a visualization of the airways through a flexible or rigid tube.

Anesthetic Solution

A liquid preparation containing anesthetic agents used to induce loss of sensation and pain in a part of the body.

Gag Reflex

A natural, involuntary contraction of the back of the throat elicited by touching the soft palate, intended to prevent choking.