Compute the net income for the year

Reference no: EM13255896

Assume that retained earnings increased by $400,000 from December 31, 2011, to December 31, 2012, for Jarvie Distribution Corporation. During the year, a cash dividend of $135,000 was paid.

1. Compute the net income for the year.

2. Assume that the revenues for the year were $835,000. Compute the expenses incurred for the year.

Reference no: EM13255896

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