Heedy Company had the following account balances in 2015 and 2016,respectively.Assuming dividends of $20,000 were paid in 2016,how much was net income?

Question

Quizplus · Accepted Answer

Net income can be calculated by adding the change in retained earnings to the dividends paid. If the change in retained earnings from 2015 to 2016 is $62,000, then net income is $62,000 + $20,000 = $82,000.

Heedy Company Had the Following Account Balances in 2015 and 2016,respectively.Assuming