At the beginning of the year, the Stephens Company had total assets of $600,000 and total stockholders' equity of $230,000. During the year, total assets increased by $90,000, and total liabilities increased by $42,000. The company also paid $7,000 in dividends.
How much was the net income for the year?

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The Answer of At the beginning of the year, the Stephens Company had total assets of $600,000 and total stockholders' equity of $230,000. During the year, total assets increased by $90,000, and total liabilities increased by $42,000. The company also paid $7,000 in dividends.
How much was the net income for the year?

At the Beginning of the Year, the Stephens Company Had