Net income calculated by using financial capital maintenence

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Reference no: EM13156841

On December 31, 2010, the net assets of Marino Manufacturing amounted to $40,000. Net income calculated by using the financial capital maintenance concept amounted to $12,000. During the year, additional common stock was issued for $8,000, and $5,000 of dividends was paid. The net assets at January 1, 2010, amounted to:

a) $31,000

b) $37,000

c) $20,000

d) $25,000

Reference no: EM13156841

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