Finney Company began the year by issuing $20,000 of common stock for cash. The company recorded revenues

Question:

Finney Company began the year by issuing $20,000 of for cash. The company recorded revenues of $185,000, expenses of $160,000, and paid dividends of $10,000. What was Finney's net income for the year?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...