The balance sheet of Delvico, an Indian firm, showed retained earnings of Rs26,575 at the start of

Question:

The of Delvico, an Indian firm, showed retained earnings of Rs26,575 at the start of a year and Rs70,463 at the end of that year. The firm declared dividends during the year of Rs3,544. All amounts are in millions of Indian rupees (Rs). Compute net income for the year.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...