During 2019, Moore Corporation paid $20,000 of dividends. Moore's assets, liabilities, and common stock at the end

Question:

During 2019, Moore Corporation paid $20,000 of dividends. Moore's assets, liabilities, and common stock at the end of 2018 and 2019 were:

12/31/2018 12/31/2019 Total assets Total liabilities Common stock $152,200 $171,800 63,750 60,000 60,000

Required:
Using the information provided, compute Moore's net income for 2019.

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...