On January 1 and December 31, 2017, retained earnings were $23,000 and $42,000, respectively. During the year, the only dividends were an ordinary stock dividend recorded at $11,000. Calculate net income for 2017.

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The Answer of On January 1 and December 31, 2017, retained earnings were $23,000 and $42,000, respectively. During the year, the only dividends were an ordinary stock dividend recorded at $11,000. Calculate net income for 2017.

On January 1 and December 31, 2017, Retained Earnings Were