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How much was the company net income for the year

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Reference no: EM132831806

Question - Rigel Company had the following adjusted account balances as of December 31, 2020:

Interest Income, 15,800

Prepaid Insurance Expense, 40,000

Purchases, 420,000

Rent Income, 120,000

Salaries Expense, 83,900

Sales, 762,200

Unearned Sales Revenue, 24,500

Utilities Expense, 77,400

Required - How much was the company's net income for the year 2020?

a. 276,700

b. 316,700

c. 342,200

d. 301,200

Reference no: EM132831806

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