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Compute the net income for the year

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Question - Calculation of net income from the change in stockholders' equity.

Presented below is certain information pertaining to Edson Company.

Assets, January 1 $240,000

Assets, December 31 230,000

Liabilities, January 1 150,000

Common stock, December 31 80,000

Retained earnings, December 31 31,000

Common stock sold during the year 10,000

Dividends declared during the year 13,000

Compute the net income for the year.

Reference no: EM131793529

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