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At the end of 2016, retained earnings for the Baker Company was $3,500. Revenue earned by the company in 2016 was $1,500, expenses paid during
At the end of 2016, retained earnings for the Baker Company was $3,500. Revenue earned by the company in 2016 was $1,500, expenses paid during the period were $800, and dividends paid during the period were $500. Based on this information alone, net income for 2016 was
a) | $200 | |
b) | $700 | |
c) | $2,000 | |
d) | $1,500 |
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