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Given the following information, determine net income. The retained earnings balance on January 1, 20Y8, equals $58,000; dividends during 20Y8 total $18,350; and the retained

Given the following information, determine net income. The retained earnings balance on January 1, 20Y8, equals $58,000; dividends during 20Y8 total $18,350; and the retained earnings balance at December 31, 20Y8, equals $64,850.

a.$11,500

b.$25,200

c.$39,650

d.None of these choices are correct.

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