K Question 3 of 5 3 Use the following appropriate amounts to

K Question 3 (of 5) 3. Use the following appropriate amounts to calculate net income: Revenues, $10,300; Liabilities, $3,000; Expenses, $4,400; Assets, $19,000; Dividends, $1,700 O $4,200 O $10,350 O $5,900 $16,000

Solution

Net income = Revenue - Expenses

= 10300 - 4400

= 5900

Correct choice C

Dividends are declared out of net income and hence not deducted