Answer:
Net loss of $99,000 which is not in the list.
b. $575000 is the answer according to attached question
Explanation:
Required value and data is not consistent with the data provided It is not possible of match net income with any answer. Even Revenue - Expenses is less the given option there might be cost of goods sold which to be deducted.
A similar question is attached with this answer, and consider its data for my answer
$ $
Assets
Equipment 255,000
Accounts receivable 85,000
Cash 209,000
Supplies 26,000
Total Assets 575,000
Equity and Liabilities
Equity
Common stock 176,000
1/1/17 Retained earnings 441,000
Net Income (99,000)
Dividends (62,000)
1/31/17 Retained earnings 280,000
Liabilities
Accounts payable 119,000
Total Equity and Liability 575,000
