Calculation of net income from the change in stockholders' equity.Presented below are changes in the account balances of Wenn Company during the year, except for retained earnings. The only entries in Retained Earnings were for net income and a dividend declaration of $17,000.1. Compute the net income for the current year.2. Explain what else can affect the Retained Earnings account.

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Calculation of net income from the change in stockholders' equity.Presented below are changes in the account balances of Wenn Company during the year, except for retained earnings.  The only entries in Retained Earnings were for net income and a dividend declaration of $17,000.1. Compute the net income for the current year.2. Explain what else can affect the Retained Earnings account.

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The Answer of Calculation of net income from the change in stockholders' equity.Presented below are changes in the account balances of Wenn Company during the year, except for retained earnings.  The only entries in Retained Earnings were for net income and a dividend declaration of $17,000.1. Compute the net income for the current year.2. Explain what else can affect the Retained Earnings account.

Calculation of Net Income from the Change in Stockholders' Equity