A Company Had the Following Balance Sheet Amounts at the Beginning

question 139

Multiple Choice

A company had the following balance sheet amounts at the beginning of the year: $\begin{array}{llcc} \text { Total assets } & \$ 650,000 \\ \text { Total stockholder's equity } & 250,000\end{array}$
During the year,total assets increased by $350,000,total liabilities increased by $100,000,and dividends were paid in the amount of $300,000.No other transactions occurred except revenues and expenses.How much is net income for the year?

• A)$750,000
• B)$650,000
• C)$500,000
• D)$550,000

---

Definitions:

Cerebral Cortex

The outer layer of neural tissue of the cerebrum in the brain, playing a key role in memory, attention, perceptual awareness, thought, language, and consciousness.

Understanding

The ability to comprehend, grasp the meaning of, or apprehend an idea, situation, or concept.

Critical Period

A specific time in an organism's development when the presence or absence of certain experiences can have profound and lasting effects on the biological or behavioral outcomes.

Skill Mastery

The process of acquiring complete control or high proficiency in a particular skill through practice and learning.