Asked by tricica
Fine Breads Inc. paid out $26,000 common dividends during 2005, and it ended the year with $150,000 of retained earnings. The prior year’s retained earnings were $145,000. What was the firm's 2005 net income?
Answers
Answered by
John
Answer is $31,000
$150,000 + $26,000 = $176,000
$176,000 - $145,000 = $31,000
$150,000 + $26,000 = $176,000
$176,000 - $145,000 = $31,000
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