SE3-13. Calculate net income. (LO 1,4)
Suppose a company had the following accounts and balances at year-end:
|
Sales revenue |
$5,400 |
|
Interest revenue |
$1,200 |
|
Rent expense |
$1,240 |
|
Other operating expenses |
$3,050 |
|
Dividends |
$1,000 |
Calculate net income by preparing the income statement for the year.