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Swifty Corporation began the year with retained earnings of $102000. During 2022, the company issued $80000 of common stock for cash. The company recorded revenues of $743000, expenses of $672000, and paid dividends of $40000. What was Swifty's net income for the year 2022

Respuesta :

Answer:

the net income for the year 2022 of Swifty is $71000

Explanation:

The computation of the net income is shown below:

As we know that

The net income is

= revenues - expenses

= $743,000 - $672,000

= $71,000

Hence, the net income for the year 2022 of Swifty is $71000

We simply applied the above formula so that the correct value could come

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