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How much net income will the company show

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Question - Hart Company has the following activities in 2018. The company had total cash sales of $2,000. During the year they incurred and paid wages of $500 and salaries of $400. They borrowed $600 from the bank that will be paid back in 2019. This borrowing incurred interest in 2018 of $60. However, this interest will be paid to the bank in 2019. Finally, the company declared and paid cash dividends of $20 during 2018. How much Net Income will the company show on the 2018 Income Statement?

Reference no: EM132902636

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