Q:

Ed Dexter began the Dexter Company by investing $20,000 of cash in the business. The company recorded revenues of $185,000

DEleiwa
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2022-05-10
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Ed Dexter began the Dexter Company by investing $20,000 of cash in the business. The company recorded revenues of $185,000, expenses of $160,000, and had owner drawings of $10,000. What was Dexter’s net income for the year?

  1. $15,000
  2. $35,000
  3. $25,000
  4. $45,000
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DEleiwa
2022-05-10
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c. $25,000

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