Revenues were $150,000, expenses were $141,000, and cash dividends declared and paid were $4000. What were the net income and the change in retained earnings for the period?
A) Net income was $9000; the change in retained earnings was $9000.
B) Net income was $150,000; the change in retained earnings was $13,000.
C) Net income was $9000; the change in retained earnings was $5000.
D) Net income was $150,000; the change in retained earnings was $146,000.
Correct Answer:
Verified
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