Homework: Homework Assignment 3 (Chapter 3) Score: 0 of 12 pts 2 of 10 (7 complete) P3-8 (similar to) Effect of net income on to 2016 de a. Co b. Conrad paid dividends totaling $495,000 and used the balance of the net income to retire (pay off) long-term debt. c. Conrad paid dividends totaling $495,000 and invested the balance of the net income in building a new hangar d. Conrad paid out all $1,367,000 as dividends to its stockholders a firm's balance sheet Conrad Air, Inc., reported net income of $1,367,000 for the year ended December 31 pending on how Conrad spent" those earnings as described in the scenarios that appear below nrad paid no dividends during the year and invested the funds in marketable securities a. If Conrad paid no dividends during the year and invested the funds in marketable securties, the amount transferred to the balance Enter your answer in the answer box and then click Check Answer Clear All 10 remaining parts