The changes in account balances for Allen Inc. for 2013 are as follows: Assuming the only changes in retained earnings in 2013 were for net income and a $25,000 dividend, what was net income for 2013?
A)$30,000.
B)$20,000.
C)$15,000.
D)$5,000.

Question

The changes in account balances for Allen Inc. for 2013 are as follows:  Assuming the only changes in retained earnings in 2013 were for net income and a $25,000 dividend, what was net income for 2013?
A)$30,000. 
B)$20,000. 
C)$15,000. 
D)$5,000.

Quizplus · Accepted Answer

The Answer of The changes in account balances for Allen Inc. for 2013 are as follows:  Assuming the only changes in retained earnings in 2013 were for net income and a $25,000 dividend, what was net income for 2013?
A)$30,000. 
B)$20,000. 
C)$15,000. 
D)$5,000.

The Changes in Account Balances for Allen Inc