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3/24 mid Changes in account balances of Multi-Plus Inc. during 2012 were: Increase Assets $420,000 Liabilities 125,000 Capital Stock 100,000 Additional Paid-In Capital 140,000 Retained

3/24 mid

Changes in account balances of Multi-Plus Inc. during 2012 were: Increase Assets $420,000 Liabilities 125,000 Capital Stock 100,000 Additional Paid-In Capital 140,000 Retained Earnings ? Assuming that there were no charges to retained earnings other than dividends of $62,000, the net income for 2010 was:

a. (7,000)

b. 55,000

c. 117,000

d. 257,000

e. none of the answers are correct

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