Modern Resorts received $72,000 cash from its investors in exchange for shares of the companys...
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Accounting
Modern Resorts received $72,000 cash from its investors in exchange for shares of the companys stock.
During the same year, Modern received cash from customers for hotel rooms totaling $820,000, and distributed cash dividends to shareholders totaling $100,000.
How much is the net effect of the three events on the companys income statement?
Select one:
a. 720,000
b. 820,000
c. 748,000
d. 638,000
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