Bay Camera
the Company Reported the Following Items on Its

question 99

Multiple Choice

Bay Camera
The company reported the following items on its financial statements for the year ended December 31:
$$\begin{array} { l r l r } \text { Sales } & \text {\$780,000 } & \text { Cost of seles } & \$ 700,000 \\\text { Selling general and administrative expense } & 20,000 & \text { Other expense } & 15,000 \\\text { Dividends } & 5,000 & \text { Incone tax expense } & 12,500\end{array}$$
-Refer to the figure Bay Camera.What is the company's net income for the current year?

• A) $22,500
• B) $32,500
• C) $42,500
• D) $80,000

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