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:

Goslings

Young geese; in a developmental context, the term often illustrates principles of imprinting and early learning.

Ducklings

Ducklings are the young of ducks; in psychology, they are often used in imprinting studies, which show how they can form attachments during a critical period early in life.

Blisspoint

The free operant level of two responses.

Set Point

A set point in physiological and psychological contexts refers to a theoretical value that the body or mind aims to maintain through various regulatory mechanisms, such as body temperature or weight.