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Anchor Corporation has provided the following information for its most recent year of operation: Revenues...

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Accounting

Anchor Corporation has provided the following information for its most recent year of operation: Revenues earned were $63,000, of which $7,000 were uncollected at the end of the year. Operating expenses incurred were $25,000, of which $5,800 were unpaid at the end of the year. Dividends declared were $8,200, of which $3,400 were unpaid at the end of the year. Income tax expense is $11,400. What is the amount of net income reported on Anchor's income statement? Multiple Choice $20,860 $25,820 $22,400 $26,600

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