13) Assume the following: Dividends paid in 2017 were $25M. If retained earnings were $100M and $120M in 2016 and 2017, respectively, what was net income in 2017? A) $5M B) $20M C) $25M D) $45M 14) Assume the following: For year 1, Gross Fixed Assets $3,000; Accumulated Depreciation $800. For year 2, Gross Fixed Assets = $4,000; Depreciation expenses $500. What is net capital spending in year 2? A) $1,000 B) -$1,000 C) $1,500 D)-$1,500