Question
Tiptoe Shoes, had annual revenues of $195,000, expenses of $108,700, and paid dividends of $22,000 during the current year. The retained earnings account before closing
Tiptoe Shoes, had annual revenues of $195,000, expenses of $108,700, and paid dividends of $22,000 during the current year. The retained earnings account before closing had a balance of $307,000. The Net Income for the year is:
Multiple Choice
- $195,000
- $64,300
- $86,300
- $371,300
- $393,300
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Corporate Finance A Practical Approach
Authors: Michelle R Clayman, Martin S Fridson, George H Troughton, Matthew Scanlan
2nd Edition
1118217292, 9781118217290
