Sparty Corporation has provided the following information for its most recent year of operation: Revenues earned were $97,000,of which $9,000 were uncollected at the end of the year.
Operating expenses incurred were $39,000,of which $7,000 were unpaid at the end of the year.
Dividends declared were $11,000,of which $3,000 were unpaid at the end of the year.
Income tax expense is $17,400.
What is the amount of net income reported on Sparty's income statement?

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The Answer of Sparty Corporation has provided the following information for its most recent year of operation: Revenues earned were $97,000,of which $9,000 were uncollected at the end of the year.
Operating expenses incurred were $39,000,of which $7,000 were unpaid at the end of the year.
Dividends declared were $11,000,of which $3,000 were unpaid at the end of the year.
Income tax expense is $17,400.
What is the amount of net income reported on Sparty's income statement?

Sparty Corporation Has Provided the Following Information for Its Most