Question
Purrfect Pets had a beginning balance in its retained earnings account of $385,600. During the year, the company declared and paid a $4,700 dividend, and
Purrfect Pets had a beginning balance in its retained earnings account of $385,600. During the year, the company declared and paid a $4,700 dividend, and at the end of the year, it reported retained earnings of $399,860. The company's net income for the year was:
A. $14,260.
B. $18,960.
C. $9,560.
D. $0
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
