Using the data below from Southwood Corporation, compute NET INCOME. Accounts Payable $70 Cost of Services 130
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Question:
Using the data below from Southwood Corporation, compute NET INCOME.
Accounts Payable | $70 |
Cost of Services | 130 |
Cash | 30 |
Capital Stock | 220 |
Dividends | 70 |
Equipment | 810 |
Accounts Receivable | 250 |
Long-term Debt | 450 |
Prepaid Insurance Expense | 20 |
Rent Expense | 90 |
Retained Earnings (beginning) | 310 |
Service Revenue | 650 |
Advertising Expense | 120 |
Group of answer choices
$240
$220
$310
$290
$420
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