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National Company reported the following for the year Correction of overstatement of depreciation expense in prior years, net to tax $130,000 Dividends declared during the
National Company reported the following for the year
Correction of overstatement of depreciation expense in prior years, net to tax $130,000
Dividends declared during the year 50,000
Net Income ????
Retained earnings at the beginning of the year, as reported 1,800,000
Retained earnings at the end of the year 2,680,000
Net Income for the year was:
a. $700,000
b. $800,000
c. $880,000
d. $750,000
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