During Year 5,a Company's Assets Increase by $112,000 and Its

question 29

Multiple Choice

During Year 5,a company's assets increase by $112,000 and its liabilities increase by $76,000.If no dividends were paid and there were no changes in the amount of common stock issued during the year,net income for Year 5 was:

• A)$112,000.
• B)$36,000.
• C)$188,000.
• D)$76,000.

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Definitions:

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Emil Kraepelin

A pioneering German psychiatrist who made significant contributions to the classification of mental illnesses in the late 19th and early 20th centuries.