What is daniels company net income

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Daniels Company reports the following year-end account balances at December 31, 2017.

Accounts payable $20,000

Inventory $40,000

Accounts receivable $40,000

Land $100,000

Bonds payable, long-term . ... $250,000

Goodwill $10,000

Buildings $160,000

Retained earnings $115,000

Cash $50,000

Sales revenue $500,000

Common stock $100,000

Supplies inventory $5,000

Cost of goods sold $200,000

Supplies expense $20,000

Equipment $80,000

Wages expense $100,000

Question 1: What is Daniels Company's net income for 2017?

a. $380,000

b. $375,000

c.  $180,000

d. $300,000

Reference no: EM132646460

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