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What is the amount of net income

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Question - Allen Marks is a sole owner and operator of Great Marks Company.  As of the end of its accounting period, December 31, 2013, Great Marks Company has assets of $925,283 and liabilities of $268,335.  During 2014, Allen Marks invested an additional $28,593 and withdrew $25,256 from the business.  What is the amount of net income during 2014, assuming that as of December 31, 2014, assets were $987,048, and liabilities were $231,670?

Reference no: EM131751497

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