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Tiptoe Shoes, had annual revenues of $190,000, expenses of $106,200, and paid dividends of $20,000 during the current year. The retained earnings account before closing
Tiptoe Shoes, had annual revenues of $190,000, expenses of $106,200, and paid dividends of $20,000 during the current year. The retained earnings account before closing had a balance of $302,000. The Net Income for the year is:
Multiple Choice
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$190,000
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$63,800
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$83,800
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$365,800
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$385,800
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