Carter Company issued ordinary shares to Sam Carter in exchange for his investment of $20,000 cash in the business.The company recorded revenues of $185,000, expenses of $160,000, and paid dividends of $10,000.What was Carter's net income for the year?

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The Answer of Carter Company issued ordinary shares to Sam Carter in exchange for his investment of $20,000 cash in the business.The company recorded revenues of $185,000, expenses of $160,000, and paid dividends of $10,000.What was Carter's net income for the year?

Carter Company Issued Ordinary Shares to Sam Carter in Exchange