Martha Innocenzi Ito began the Innocenzi Company by investing $75, 000 of cash in the business. The company recorded revenues of $555, 000, expenses of $410, 000, and had owner drawings of $30, 000. What was Innocenzis net income for the year?

FINANCIAL ACCOUNTING

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Martha Innocenzi Ito began the Innocenzi Company by investing $75, 000 of cash in the business. The company recorded revenues of $555, 000, expenses of $410, 000, and had owner drawings of $30, 000. What was Innocenzi’s net income for the year?

A	$115, 000.
B	$145, 000.
C	$175, 000.
D	$190, 000.

Explanation:

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BUSINESS ADMINISTRATION

FINANCIAL ACCOUNTING