On January 1, 2022, Cat Power Company Reported Stockholders' Equity

question 181

Multiple Choice

On January 1, 2022, Cat Power Company reported stockholders' equity of $705,000.During the year, the company paid dividends of $30,000.At December 31, 2022, the amount of stockholders' equity was $825,000.What amount of net income or net loss would the company report for 2022?

• A)Net loss of $30,000
• B)Net income of $90,000
• C)Net income of $120,000
• D)Net income of $150,000