Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with

Question:

Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with $187,500 of retained earnings versus the prior year's retained earnings of $132,250. How much net income did the firm earn during the year? $77,000 $80,850 $84,893 $89,137 $93,594