Assets = 500. Total liabilities = 300. PIC = 100. Beginning balance for retained earning was 50. Dividends paid during the period was 20. What is net income?

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 11MCQ
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General Accounting

Assets = 500. Total liabilities = 300.
PIC = 100. Beginning balance for
retained earning was 50. Dividends
paid during the period was 20.
What is net income?
Transcribed Image Text:Assets = 500. Total liabilities = 300. PIC = 100. Beginning balance for retained earning was 50. Dividends paid during the period was 20. What is net income?
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