Question

Item2 Time Remaining 1 hour 12 minutes 49 seconds01:12:49 Item 2Item 2 Time Remaining 1 hour 12 minutes 49 seconds01:12:49 Revenue on account amounted to $5,000. Cash collections of accounts receivable amounted to $2,300. Expenses for the period were $2,100. The company paid dividends of $450. What was net income for the period

Answer 1

$2,900

Step-by-step explanation:

Net Income is the difference between sales and expenses incurred during the Reporting Period. This is calculated in the Income Statement.

Net Income = $5,000 - $2,100

= $2,900