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Given the information below, what is the net income for 2012 if the company declared and paid a $50,000 dividend? Balance Sheet 12/31/2011 12/31/2012 Assets

Given the information below, what is the net income for 2012 if the company declared and paid a $50,000 dividend?

Balance Sheet 12/31/2011 12/31/2012

Assets $ 928,000 $ 987,000

Liabilities 354,000 383,000

Common Stock 400,000 410,000

Additional Paid In Capital 52,000 60,000

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