Operator of immigrant relocator services

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Reference no: EM131221868

Sue Krebs is the sole owner and operator of Immigrant Relocator Services. As of the end of its accounting period, December 31, 2005, Immigrant Relocator Services has assets of $925,000 and liabilities of $285,000. During 2006, Sue Krebs invested an additional $50,000 and withdrew $30,000 from the business. What is the amount of net income during 2006 for Immigrant Relocator Services, assuming that as of December 31, 2006, assets were $980,000, and liabilities were $255,000? $ 95,000 $ 65,000 $165,000 $725,000

Reference no: EM131221868

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