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

a. Calculate the amount of retained earnings at the end of the year.
\(b\). Using your answer to part \(a\), if the amount of the retained earnings at the beginning of the year was \(\$ 30,000\), and \(\$ 6,000\) in dividends was paid during the year, what was the net income for the year?

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Accounts receivable. Accounts payable.. Cash..... Common stock. $ 40,000 Retained earnings ? 8,000 Supplies.. 9,000 7,000 Equipment 140,000 130,000