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A Company Had the Following Information The Net Income for the Period Is:
A) $26,800
B)

Question 3

Multiple Choice

A company had the following information:  Cash $6,000 Sales $142,000 Depreciation expens e 4,000 Dividends paid 3,000 Prep aid rent 1,400 Rent expense 3,600 Cost of goods sold 68,000 Wage expense 41,000\begin{array}{lll}\text { Cash } & \$ 6,000& \text { Sales } & \$ 142,000 \\\text { Depreciation expens e } & 4,000 &\text { Dividends paid } & 3,000 \\\text { Prep aid rent } & 1,400 &\text { Rent expense } & 3,600 \\\text { Cost of goods sold } & 68,000 &\text { Wage expense } & 41,000\end{array} The net income for the period is:


A) $26,800
B) $22,400
C) $25,400
D) $23,800

Correct Answer:

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