Huntington Corporation
Presented Below Are All of the Items from Huntington

question 49

Essay

Huntington Corporation
Presented below are all of the items from Huntington Corporation's income statement for the years ending December 31, 2018 and 2017.

$\begin{array}{lrr}&\text { December 31, } 2018 & \text { December 31, } 2017\\\text { Service fees } & \$ 2,300,000 & \$ 2,100,000 \\\text { General and administrative expenses } & 1,900,000 & 1,500,000 \\\text { Other income, net } & 40,000 & 20,000 \\\text { Income taxes } & 150,000 & 180,000\end{array}$
-Read the information about Huntington Corporation.
Required
How much is net income for the year ended December 31,2018? If Huntington Corporation had used a single-step statement,by how much would net income be different? Explain.

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Definitions:

RAM

Random Access Memory, a type of computer memory that can be accessed randomly and is used for storing working data and machine code.

Reflective

Pertaining to a surface or material that sends back light, heat, or sound without absorbing it, often used in screen technology or safety equipment.

Touch Screen

A display screen that detects and responds to touch gestures, allowing users to interact directly with what is displayed.

Resistive

In the context of technology, resistive often refers to a type of touch screen that registers input from pressure on its surface.