M2-14. Determining Retained Earnings and Net Income Using the Balance Sheet The following information is reported for Kinney Corporation at the end of 2015. 9,000 Cash 8,000 Equipment Compute the amount of retained earnings at the end of 2015. If the amount of retained earnings at the beginning of 2015 was $30,000, and $12,000 in cash dividends were declared and paid during 2015, what was its net income for 2015? a. b