Question
Stosch Company's balance sheet reported assets of $53,000, liabilities of $17,000 and common stock of $14,000 as of December 31, Year 1. If Retained Earnings
Stosch Company's balance sheet reported assets of $53,000, liabilities of $17,000 and common stock of $14,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $26,000 and Stosch paid a $16,000 dividend during Year 2, then the amount of net income for Year 2 was which of the following?
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
