The following facts pertain to Rojas Corporation:
$\begin{array}{llr}
\text { Retained Earnings balance, December 31, 2009} &\$550,000\
\text { Cash dividends declared and paid in 2010} &60,000\
\text { Cash dividends declared but not paid in 2010 } &20,000\
\text { Retained Earnings balance reported on December 31,2010 , balance sheet} &675,000\
\end{array}$
On the basis of these facts,compute the amount of net income (loss)for Rojas Corporation for 2010.

Question

The following facts pertain to Rojas Corporation:
 $\begin{array}{llr}
  \text {  Retained Earnings balance, December 31, 2009} &\$550,000\
 \text {  Cash dividends declared and paid in 2010} &60,000\
 \text { Cash dividends declared but not paid in 2010 } &20,000\
 \text {  Retained Earnings balance reported on December 31,2010 , balance sheet} &675,000\
\end{array}$
 On the basis of these facts,compute the amount of net income (loss)for Rojas Corporation for 2010.

Quizplus · Accepted Answer

The Answer of The following facts pertain to Rojas Corporation:
 $\begin{array}{llr}
  \text {  Retained Earnings balance, December 31, 2009} &\$550,000\
 \text {  Cash dividends declared and paid in 2010} &60,000\
 \text { Cash dividends declared but not paid in 2010 } &20,000\
 \text {  Retained Earnings balance reported on December 31,2010 , balance sheet} &675,000\
\end{array}$
 On the basis of these facts,compute the amount of net income (loss)for Rojas Corporation for 2010.

The Following Facts Pertain to Rojas Corporation On the Basis of These Facts,compute the Amount of Net