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. Net income for the period was
A. $1,200.
B. $2,900.
C. $2,850.
D. $2,450.
Answer:B
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. Net income for the period was
A. $1,200. B. $2,900. C. $2,850. D. $2,450.