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What is yowell net income for year

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Question - Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions:

1) issued stock for $68,000

2) borrowed $39,000 from its bank

3) provided consulting services for $66,000 cash

4) paid back $29,000 of the bank loan

5) paid rent expense for $16,000

6) purchased equipment for $26,000 cash

7) paid $4,400 dividends to stockholders

8) paid employees' salaries of $35,000

What is Yowell's net income for Year 1?

Reference no: EM131976511

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