Question
Stosch Company's balance sheet reported assets of $87,000, liabilities of $24,000 and common stock of $21,000 as of December 31, 2015. If Retained Earnings on
Stosch Company's balance sheet reported assets of $87,000, liabilities of $24,000 and common stock of $21,000 as of December 31, 2015. If Retained Earnings on the December 31, 2016 balance sheet is $54,000 and Stosch paid a $23,000 dividend during 2016, then the amount of net income for 2016 was which of the following?
• $23,000
• $35,000
• $12,000
• $42.000
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Strategic Management A Competitive Advantage Approach Concepts
Authors: Fred R. David, Forest R. David
15th edition
978-0133444896, 133444791, 9780133444858, 133444899, 133444856, 978-0133444797
