High Step Shoes,had annual revenues of $185,000,expenses of $103,700,and paid dividends of $18,000 during the current year.The retained earnings account before closing had a balance of $297,000.The Net Income for the year is:
A) $185,000
B) $63,300
C) $81,300
D) $360,300
E) $378,300
Correct Answer:
Verified
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A)Retained
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