A Company Reported the Following Asset and Liability Balances at the End

question 2

Multiple Choice

A company reported the following asset and liability balances at the end of 2009 and 2010: $$\begin{array} { l r r } & 2009 & 2010 \\\text { Total Assets } & \$ 6,800,000 & \$ 7,600,000 \\\text { Total Liabilities } & 3,200,000 & 3,600,000\end{array}$$ During 2010,cash dividends of $50,000 were declared and paid,and common stock was issued for $100,000.How much was the 2010 net income?

• A)$400,000
• B)$480,000
• C)$350,000
• D)$300,000

---

Definitions:

Sales Managers

Professionals responsible for directing and overseeing a company's sales team, focusing on meeting sales targets and developing sales strategies.

Ethical Training

Education and activities aimed at teaching individuals or employees about proper moral behavior and decision-making.

Role-play Training

A technique where people simulate a role or context in order to practice behaviors, strategies, or problem-solving skills.

Selling Skills

Competencies related to effectively persuading customers to purchase a product or service, including communication, negotiation, and empathy.