Reynolds Inc. paid $480 in dividends and $650 in interest this past year. Common stock increased by $320, and retained earnings increased by $180. What is the net income for the year? Options: a) $480 b) $660 c) $800 d) $950 e) $1,130

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
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Reynolds Inc. paid $480 in dividends and $650 in interest this past year.
Common stock increased by $320, and retained earnings increased by $180.
What is the net income for the year?
Options:
a) $480
b) $660
c) $800
d) $950
e) $1,130
Transcribed Image Text:Reynolds Inc. paid $480 in dividends and $650 in interest this past year. Common stock increased by $320, and retained earnings increased by $180. What is the net income for the year? Options: a) $480 b) $660 c) $800 d) $950 e) $1,130
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