Thompson had no stock transactions in 2018, so the change in stockholders' equity for 2018 was due to net income and dividends. If dividends were $50,000, how much was Thompson's net income for 2018?

Use the accounting equation and the statement of retained earnings.

Thompson Company had the following on the dates indicated: E: (Click to view the details) Thompson had no stock transactions in 2018, so the change in stockholders' equity for 2018 was due to net income and dividends. If dividends were $50,000, how much was Thompson's net income for 2018? Use the accounting equation and the statement of retained earnings. O A. $439,000 Data Table OB. $489,000 O C. $589,000 OD. $539,000 12/31/18 12/31/17 Total assets $ 540,000 $ 38.000 Total liabilities 37,000 24,000 Print Done