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Saved Help Save & EX Required information (The following information applies to the questions displayed below.) Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $74,000 2) borrowed $42,000 from its bank 3) provided consulting services for $72,000 4) paid back $32,000 of the bank loan 5) paid rent expense for $17,500 6) purchased equipment costing $29,000 7) paid $4,700 dividends to stockholders 8) paid employees' salaries, $38,000 What is Yowell's net income? Multiple Choice