Question
On January 1, 2009, Dayton Company had beginning balances as follows: Assets = $1,250; Liabilities = $420; Common Stock = $500 During 2009, Dayton paid
On January 1, 2009, Dayton Company had beginning balances as follows:
Assets = $1,250; Liabilities = $420; Common Stock = $500
During 2009, Dayton paid dividends to its stockholders of $500. Given that ending retained earnings was $600, what was Dayton's net income for the 2009 accounting period?
A. $1,250
B.$500
C. $830
D. $770
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Handbook Of The Economics Of Finance Volume 2A
Authors: George M. Constantinides, Milton Harris, Rene M. Stulz
1st Edition
0444535942, 978-0444535948
