Question

Nash's Trading Post, LLC began the year by issuing $75000 of common stock for cash. The company recorded revenues of $725000, expenses of $625000, and paid dividends of $35000. What was Nash's,LLC net income for the year

Answer 1

$100,000

Step-by-step explanation:

Net income is the income available to a company after the deduction of expenses.

With regards to the above, we will calculate the net income as ;

Net income = Revenue recorded - Expenses.

Give that;

Revenue recorded = $725,000

Expenses = $625,000

Net income = $725,000 - $625,000

Net income = $100,000

Therefore, Nash's LLC net income for the year is $100,000.