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What amount of net income

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Reference no: EM132052551

Astoria Co. had the following transactions during the month of August 2014:

  • Cash received from bank loans was $20,000.
  • Dividends of $9,500 were paid to stockholders in cash.
  • Revenues earned and received in cash amounted to $33,500.
  • Expenses incurred and paid were $26,000.

What amount of net income will be reported on an income statement for the month of August?

  • $20,000.
  • $7,500.
  • $0.
  • $33,500.

Reference no: EM132052551

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