Net income refers to the increase in equity [in 1 year / over the life of the

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Net income refers to the increase in equity [in 1 year / over the life of the corporation to date], whereas retained earnings refers to the net increases, after deduction of dividends, [in 1 year / over the life of the corporation to date].

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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