The following facts pertain to the stockholders' equity section of the balance sheet of Avenida Corporation:

During 20x5,Avenida declared and distributed a stock dividend.Also during 20x5,Avenida declared and paid cash dividends of $17,000.There were no changes in the number of shares of stock issued and outstanding during the period except for the change caused by the stock dividend.Calculate the amount of net income reported by Avenida for 20x5.

Question

The following facts pertain to the stockholders' equity section of the balance sheet of Avenida Corporation:
 
During 20x5,Avenida declared and distributed a stock dividend.Also during 20x5,Avenida declared and paid cash dividends of $17,000.There were no changes in the number of shares of stock issued and outstanding during the period except for the change caused by the stock dividend.Calculate the amount of net income reported by Avenida for 20x5.

Quizplus · Accepted Answer

The Answer of The following facts pertain to the stockholders' equity section of the balance sheet of Avenida Corporation:
 
During 20x5,Avenida declared and distributed a stock dividend.Also during 20x5,Avenida declared and paid cash dividends of $17,000.There were no changes in the number of shares of stock issued and outstanding during the period except for the change caused by the stock dividend.Calculate the amount of net income reported by Avenida for 20x5.

The Following Facts Pertain to the Stockholders' Equity Section of the Balance