Question 11 A corporation had beginning retained earnings of $2,442,000 and ending retained earnings of $2,749,000. During the year, it reported the following: Issued common stock, $141,000 Declared and paid dividends, $40,000 What was its net income for the year? O $307,000 $488,000 O $297,000 O $347,000 6.67 pts O $267,000

A corporation had beginning retained earnings of $2,442,000 and ending retained earnings of $2,749,000. During the year, it reported the following: Issued common stock, $141,000 Declared and paid dividends, $40,000 What was its net income for the year? $307.000 $488,000 $297,000 $347,000 $267,000