Morris lest inc. sold its delivery truck for $500 more than its book value. the sale will result in an increase in Net income on the income statement.
A business may try to cut costs or boost revenue in an effort to raise net income. Companies can reduce costs by buying fewer things, paying less for labor, or increasing production efficiency.
A corporation grows when it generates income because its net assets have grown. Even if a portion of the income is later paid out as a dividend to shareholders, the company has expanded due to its own operations.
A corporation's retained earnings, which are a component of stockholders' equity, rise when its net income is positive. Stockholders' equity and retained earnings will decline as a result of a net loss.
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