Kilgore Company experienced the following events during its first accounting period.(1) Issued common stock for...

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Accounting

Kilgore Company experienced the following events during its first accounting period.(1) Issued common stock for $6,700 cash.(2) Earned $4,700 of cash revenue.(3) Paid $5,700 cash to purchase land.(4) Paid cash dividends amounting to $485.(5) Paid $2,370 of cash expenses.Based on this information the amount of net income is:
Multiple Choice
$2,370.
$1,165
.$2,330.
$4,740.

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