Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $48,000 2) borrowed $29,000 from its bank  3) provided consulting services for $46,000  4) paid back $19,000 of the bank loan  5) paid rent expense for $11,000  6) purchased equipment costing $16,000  7) paid $3400 dividends to stockholders  8) paid employees' salaries, $25,000 What is Yowell's net income?

A. $10,000
B. $3400
C. $44,600
D. $19,000


Answer: A

Business

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