A company reports the following balances: During 2019,dividends of $16,000 were declared and paid.What is net income for 2019?
A)$4000
B)$12,000
C)$16,000
D)$28,000

Name: A company reports the following balances: During 2019,dividends of $16,000 were declared and paid.What is net income for 2019? A)$4000 B)$12,000 C)$16,000 D)$28,000
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Question

A company reports the following balances:  During 2019,dividends of $16,000 were declared and paid.What is net income for 2019?
A)$4000 
B)$12,000 
C)$16,000 
D)$28,000

Quizplus · Accepted Answer

Beginning Balance,Retained Earnings $69,000 + Net Income - Dividends $16,000 = Ending Balance,Retained Earnings $81,000
Net Income = $28,000

A Company Reports the Following Balances: During 2019,dividends of $16,000