If the beginning and ending balances in retained earnings are $13,000 and $10,000, respectively, and dividends during the year are $10,000, then net income for the year is:
a. $14,000.
b. $7,000.
c. $18,000.
d. $32,000.

Question

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The Answer of If the beginning and ending balances in retained earnings are $13,000 and $10,000, respectively, and dividends during the year are $10,000, then net income for the year is:
a. $14,000.
b. $7,000.
c. $18,000.
d. $32,000.

If the Beginning and Ending Balances in Retained Earnings Are