Finney Company Began the Year by Issuing $80,000 of Common

question 76

Multiple Choice

Finney Company began the year by issuing $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?

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

---

Definitions:

Geography

The study of Earth's landscapes, environments, and the relationships between people and their environments.

Stimulus Motive

A motive that appears to be unlearned but causes an increase in stimulation, such as curiosity.

Unlearned

Behaviors and responses not acquired through learning or conditioning; innate.

Acquired

Traits or skills that are not present at birth but developed through experience or learning.