Question 94 1 pts Revenues were $170,000, expenses were $90,000, and cash dividends were $30,000. What was the net income and the change in retained earnings for the period? Net income was $50,000; the change in retained earnings was $50,000. Net income was $80,000; the change in retained earnings was $50,000. Net income was $250,000; the change in retained earnings was $250,000 Net income was $80,000; the change in retained earnings was $80,000. Question 95 1 pts At the beginning of the period, assets were $490,000 and stockholders' equity was $240,000. During the year, assets increased by $60,000, liabilities increased by $40,000, and stockholders' equity increased by $20,000. Beginning liabilities must have been: $280,000 $230,000 $250,000 $300,000