The following information appears in the records of Becker Corporation at year-end:

a. Calculate the balance in retained earnings at year-end.

b. If the amount of the retained earnings at the beginning of the year was \(\$ 38,000\), and \(\$ 13,000 \mathrm{in}\) dividends is paid during the year, calculate net income for the year.

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Accounts receivable. Accounts payable.. Cash....... Common stock $ 32,000 Retained earnings 12,000 7,000 115,000 Supplies..... Equipment, net.. $ ? 8,000 145,000