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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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