Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year-end: Accounts Receivable $23.000 Retained Earnings 52 Accounts Payable 11.000 Supplies 9,000 Cash 8.000 Equipment, net 138,000 Common Stock 90.000 a. Calculate the balance in Retained Earnings at year-end. $ 60,000 X b. If the amount of the retained earnings at the beginning of the year was $30,000 and $12,000 in dividends is paid during the year, calculate net income for the year. $ 42,000 Check