Tarp Corporation
$\begin{array}{ll}
\text { Beginning retained earnings } & \$ 550,000 \
\text { Ending retained earnings } & 700,000 \
\text { Dividends paid } & 100,000 \
\text { Revenue } & 525,000
\end{array}$
- Refer to the selected information provided for Tarp Corporation. What is the net income for Tarp Corporation?

Question

Tarp Corporation 
$\begin{array}{ll}
\text { Beginning retained earnings } & \$ 550,000 \
\text { Ending retained earnings } & 700,000 \
\text { Dividends paid } & 100,000 \
\text { Revenue } & 525,000
\end{array}$
- Refer to the selected information provided for Tarp Corporation. What is the net income for Tarp Corporation?

Quizplus · Accepted Answer

The change in retained earnings is $150,000 ($700,000 - $550,000). Adding back the dividends paid of $100,000 gives a net income of $250,000.

Tarp Corporation - Refer to the Selected Information Provided for Tarp Corporation