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
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
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?
$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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