Cullumber Corporation began operations on January 1, 2025. The following information is available for Cullumber on...

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Cullumber Corporation began operations on January 1, 2025. The following information is available for Cullumber on December 31, 2025, Accounts receivable Supplies expense Equipment Rent expense Dividends Service revenue Supplies $1,040 2.500 Net income/(loss) 12,260 7,180 2.220 22,900 2,060 Determine net income for 2025. $ |||||| Retained earnings Accounts payable Cash Insurance expense) Notes payable Common stock Salaries expense $0 1,580 2,540 900 5,620 8,000 7,400 Cullumber Corporation began operations on January 1, 2025. The following information is available for Cullumber on December 31, 2025, Accounts receivable Supplies expense Equipment Rent expense Dividends Service revenue Supplies $1,040 2.500 Net income/(loss) 12,260 7,180 2.220 22,900 2,060 Determine net income for 2025. $ |||||| Retained earnings Accounts payable Cash Insurance expense) Notes payable Common stock Salaries expense $0 1,580 2,540 900 5,620 8,000 7,400

Answer rating: 100% (QA)

To calculate net income for 2025 we need to subtract th... View the full answer