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Astoria Company had the following transactions during the month of August Year 1: (1) Cash...

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Accounting

Astoria Company had the following transactions during the month of August Year 1:

(1) Cash received from bank loans was $30,000.

(2) Dividends of $10,500 were paid to stockholders in cash.

(3) Revenues earned and received in cash amounted to $43,500

(4) Expenses incurred and paid were $31,000.

What amount of net income will be reported on an income statement for the month of August?

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Please complete steps 1-13 ...