Answer:
The net income reported by Oriole Computer Repair Shop for the year was $224,000
Step-by-step explanation:
The net income reported by Oriole Computer Repair Shop for the year = Total computer repair revenues - Total expenses
During the year, Orioles Computer Repair Shop recorded $523,000 in computer repair revenues, $299,000 and expenses.
Net income = $523,000 - $299,000 = $224,000
Noted: Oriole paid dividends of $49,200 did not affect to net income.