Colby company had assets of 280000 and liabilities of

Reference no: EM13481309

Colby Company had assets of $280,000 and liabilities of $120,000 at the beginning of the year, and assets of $400,000 and liabilities of $140,000 at the end of the year. During the year, there was an investment of $40,000 in the business and the company paid dividends of $48,000. What amount of net income did the company earn during the year?

	$260,000
	$160,000
	$100,000
	$108,000
	($8,000)

Reference no: EM13481309

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