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Last year a firm paid out $21,750 of common dividends and ended the year with $187,500 of retained earnings versus the prior year's retained earnings

Last year a firm paid out $21,750 of common dividends and ended the year with $187,500 of retained earnings versus the prior year's retained earnings of $132,250. How much net income did the firm earn during the year? Select one: a. $77,000 b. $80,850 c. $84,893 d. $89,137 e. $93,594

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