Retained earnings 104,900 Total stockholders' equity 234,900 Total liabilities and stockholders' equity 265,700 Feedback Check My Work a. Recall that the balance sheet is a formal presentation of the accounting equation, such that total assets must equal total liabilities and stockholders' equity Learning Objective 5. b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month. 83,600 c. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $23,100 were paid during the month 144,100 X Feedback Check My Work b. Net income is the difference between the stockholders' equity amounts at the end of July and the end of August. c. The increase in stockholders' equity between July and August plus the dividends will be equal to the net income. Learning Objective 5 Feedback Check My Work Partially correct