Francis Corporation's retained earnings increased $187,500 last year and its assets increased $486,500. Francis declared a $39,500 cash dividend during the year. What was last year's net income? Multiple Choice $148,000 $187,500 $227,000 $259,500 Sugar Industries has provided the following data for its 2022 operations (ignore income taxes): 2022 revenues were $148,500. 2022 expenses were $71,700. Dividends declared and paid during 2022 totaled $14,250. Total assets at December 31, 2022 were $265,500. Total liabilities at December 31, 2022 were $133,500. Common stock at December 31, 2022 was $42,000. Which of the following is correct? Multiple Choice 2022 net income was $62,550. Total stockholders' equity at December 31, 2022 was $354,000. Retained earnings at December 31, 2022 were $90,000