Acompany had the following assets and liabilities at the beginning and end of the current year:

assets liabilities
beginning of year $ 231,000 $ 96,500
end of the year 262,000 78,400
common stock in the amount of $ 23,500 was issued and dividends of $ 6,700 were paid during the year. what is the amount of net income for the year?

a) $18,900

b) $65,900

c) $49,100

d) $32,300

$32,300

Explanation:

Begining equity = Begining asset - Begining liabilities

                            = $231,000 - $96,500 = $134,500

Ending equity = Ending asset - Ending liabilities

                        = $262,000 - $78,400 = $183,600

We will find the net income for the year using the below formula:

Ending equity = Begining equity + Stock issuance + Net income - Dividend paid, or:

$183,600 = $134,500 + 23,500 + Net income - $6,700.

Solve the above equation we get Net income = $32,300

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(b) management: leadership

if you use only 25 for your entertainment and only 200 for the groceries that you really need and take out the 50 per month for the computer then that should be enough