An analysis of the transactions of Canary Cola Inc. for the year 2011 yields the following information:

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An analysis of the transactions of Canary Cola Inc. for the year 2011 yields the following information: revenue, $78,000; supplies expense, $33,200; rent expense, $20,500; and dividends, $7,000.
Required:
What is the amount of net income reported by Canary Cola for 2011?
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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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