and the period after QUESTION 11 Snowberry Corporation had a net increase in Retained Earnings of $182.000 for the year. The corporation also paid $56.000 of cash dividends that had been the previous year. This year, the corporation declared $50,400 of dividends but has not paid them as of year-end. Given this information, the net income for t year must have been: $176,400 $238,000 $182,000 $232,400 none of the above QUESTION 12 Ivan Heights Company issues 114,000 shares of preferred stock for $38 per share. The stock has a fixed dividend rate of 9% and a par vall moon records the issuance with a debit to Cash for: 64-332.000.