Below Is Accounting Information for Cascade Company for 2010 What Was Net Income for the Year?
A)$320,000
B)$296,000
C)$100,000

question 98

Multiple Choice

Below is accounting information for Cascade Company for 2010:
$$\begin{array} { | l | l | } \hline \text { Revenue } & \$ 416,000 \\\hline \text { Cash } & \$ 120,000 \\\hline \text { Common Stock } & \$ 200,000 \\\hline \text { Expenses } & \$ 300,000 \\\hline \text { Equipment } & \$ 240,000 \\\hline \text { Accounts Receivable } & \$ 35,000 \\\hline \text { Notes Payable } & \$ 50,000 \\\hline \text { Notes Receivable } & \$ 62,000 \\\hline\end{array}$$
What was Net Income for the year?

• A)$320,000
• B)$296,000
• C)$100,000
• D)$457,000
• E)$116,000

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Definitions:

Visitations

Scheduled times set by court order for a non-custodial parent or other family members to visit with a child.

Heterosexual Women

Women who are romantically or sexually attracted to individuals of the opposite sex.

Parents

The caregivers of a child, who may be biological, adoptive, or guardian figures, responsible for the child's upbringing and development.

Stepparent

An individual who is married to a person with children from a previous relationship, but is not their biological parent.