During the year, Proffitts, Inc., had revenue of $97,000 and expenses of $29,000. During the year,...

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During the year, Proffitts, Inc., had revenue of $97,000 and expenses of $29,000. During the year, it collected $12,000 from its customers and paid $3,000 of its expenses and $20,000 of dividends to its owners. Net income for the year equals $ During the year, Proffitts, Inc., had revenue of $97,000 and expenses of $29,000. During the year, it collected $12,000 from its customers and paid $3,000 of its expenses and $20,000 of dividends to its owners. Net income for the year equals $

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