During the year, FastDry Corporation has $ 340,000 in revenues, $ 155,000 in expenses, and $ 12,000 in dividend declarations and payments. Net income for the year was:

We have been been given that during the year, Fast Dry Corporation has $ 340,000 in revenues, $ 155,000 in expenses, and $ 12,000 in dividend declarations and payments.

We will use following formula to solve our given problem.

[tex]\text{Net income}=\text{Revenues}-\text{Expenses}[/tex]

[tex]\text{Net income}=\$340,000-\$155,000[/tex]

[tex]\text{Net income}=\$185,000[/tex]

Therefore, the net income for the year was $185,000.

During the​ year, FastDry Corporation has $ 340,000 in​ revenues, $ 155,000 in​ expenses, and $ 12,000 in dividend declarations and payments. Net income for the year​ was:

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During the year, FastDry Corporation has $ 340,000 in revenues, $ 155,000 in expenses, and $ 12,000 in dividend declarations and payments. Net income for the year was: