Revenues were $150,000,expenses were $144,000,and cash dividends declared and paid were $3,000.What were the net income and the change in retained earnings for the period?
A) Net income was $6,000;the change in retained earnings was $6,000.
B) Net income was $150,000;the change in retained earnings was $9,000.
C) Net income was $6,000;the change in retained earnings was $3,000.
D) Net income was $150,000;the change in retained earnings was $147,000.
Correct Answer:
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