Question: Bonus Question. Presented below is certain information pertaining to Edson Company. Assets, January 1, 2016 $250,000 Assets, December 31, 2016 230,000 Liabilities, January 1, 2016

Bonus Question.

Presented below is certain information pertaining to Edson Company.

Assets, January 1, 2016 $250,000

Assets, December 31, 2016 230,000

Liabilities, January 1, 2016 150,000

Common stock, December 31, 2016 80,000

Retained earnings, December 31, 2016 31,000

Common stock sold during the year 10,000

Dividends declared during the year 13,000

Compute the net income for the year (

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