Answer only please Part 3 of 3What is Yowell's net income?Multiple Choice$33,000$4.800$17,000$71,200 Required information[The following information applies to the questions displayed below.]Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cashtransactions:- of 31) issued stock for $76,0002) borrowed $43,000 from its bank3) provided consulting services for $74,0004) paid back $33,000 of the bank loan5) paid rent expense for $18,0006) purchased equipment costing $30,0007) paid $4,800 dividends to stockholders8) paid employees' salaries, $39,000What is Yowell's net income?Multiple Choice

Net Income of the business means the difference of revenues and expenses of the business. If…

Required information (The following information applies to the questions displayed below.] Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $76,000 2) borrowed $43,000 from its bank 3) provided consulting services for $74,000 4) paid back $33,000 of the bank loan 5) paid rent expense for $18,000 6) purchased equipment costing $30,000 7) paid $4,800 dividends to stockholders 8) paid employees' salaries, $39,000 What is Yowell's net income?

Required information (The following information applies to the questions displayed below.] Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $76,000 2) borrowed $43,000 from its bank 3) provided consulting services for $74,000 4) paid back $33,000 of the bank loan 5) paid rent expense for $18,000 6) purchased equipment costing $30,000 7) paid $4,800 dividends to stockholders 8) paid employees' salaries, $39,000 What is Yowell's net income?

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section: Chapter Questions

Problem 3AP

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