Alpha Corporation is a service company. Alpha has the following balances at the start of...
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Accounting
Alpha Corporation is a service company. Alpha has the following balances at the start of January 2020: Accounts Receivable $ 6,000 Accounts Payable $ 4,000 Cash $ 8000 Land $ 20,000 Alpha has the following balances at the start of January 2021: Accounts Receivable increased by 50% Accounts Payable decreased by 50% Cash increased by 25% Additional Land was purchased for $10,000. During 2020: New Shares issued = $10,000 Dividends = $5,000 Required: Calculate Net Income for the year ending 2020.
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