Presented here is information for Oriole Company for 2022. How to calculate the net income? Retained earnings, January 1   $171,600 Service revenue   528,000 Total expenses   231,000 Dividends   85,800

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 17PA: Using the following Company W information, prepare a Retained Earnings Statement. Retained earnings...
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Presented here is information for Oriole Company for 2022. How to calculate the net income?

Retained earnings, January 1   $171,600
Service revenue   528,000
Total expenses   231,000
Dividends   85,800
 
 
 
Expert Solution
Step 1

Net income = Total revenue - Total expenses

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