Purrfect Pets had a beginning balance in its retained earnings account of $385,600.During the year,the company declared and paid a $4,700 dividend,and at the end of the year,it reported retained earnings of $399,860.The company's net income for the year was:
A) $14,260.
B) $18,960.
C) $9,560.
D) none of the answers are acceptable.
Correct Answer:
Verified
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