During 2014, Nonut Bakery paid out RM33,525 of common dividends. It ended the year with RM197,500 of retained earnings versus the prior year's retained earnings of RM159,600. How much net income did the firm earn during the year?

During 2014, Nonut Bakery paid out RM33,525 of common dividends. It ended the year with RM197,500 of retained earnings versus the prior year's retained earnings of RM159,600. How much net income did the firm earn during the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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During 2014, Nonut Bakery paid out RM33,525 of common dividends. It ended the
year with RM197,500 of retained earnings versus the prior year's retained earnings of
RM159,600. How much net income did the firm earn during the year?

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