The income statement of a corporation for the month of October indicates a net income of $158,250.

Question:

The income statement of a for the month of October indicates a net income of $158,250. During the same period, $180,000 in cash dividends were paid. Would it be correct to say that the business incurred a net loss of $21,750 during the month? Discuss.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...