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Compute the net income at December

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Question - The following information was taken from the records of Thompson Corporation for the year ended December 31, 2013:

Dividends paid $12,800

Service revenue 90,500

Accounts payable 139,750

Capital stock 378,750

Total expenses 67,000

Retained earnings (at 1/1/2013) 43,400

Required - Compute the net income at December 31, 2013?

a. $23,500

b. $54,100

c. $43,400

d. $72,750

Reference no: EM132631745

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