4K ge gagenow.com/ilrnytakeAssig nment Mando?invoke?assignments &takeAss; ocator

Question

4K ge gagenow.com/ilrnytakeAssig nment Mando?invoke?assignments &takeAss; ocator assigr me-a ?,? Calculator As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $923,741 and liabilities of $274,714. During Year 2, stockholders invested an additional $28,846 and received $25,195 in dividends from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $981,293 and liabilities were $233,7057 $57,552 94,910 25,195 41,009 Previous

Explanation / Answer

Equity in Year 1 = 923741-274714 = 649027

Equity in Year 2 = 981293-233705 = 747588

Net Income = (747588-649027)-28846+25195 = $94910

Option B is Correct

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