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How to compute net income for the year

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Reference no: EM132552146

Question 1: How to compute net income/(loss) for the year 2022?

Retained earnings, January 1, 2022 - $54,720

Advertising expense - $2,050

Dividends during 2022- $5,700

Rent expense - $11,860

Service revenue - $71,250

Utilities expense - $3,530

Salaries and wages expense - $31,920

Other comprehensive income (net of tax) - $460

Reference no: EM132552146

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