Valencia Inc. began 2024 with $75,000 in stockholders' equity. During the year, the company issued additional common stock for $15,000 and paid dividends of $22,000. At December 31, 2024, Valencia had $98,000 in total stockholders' equity. What was Valencia's net income for 2024? a. $30,000 b. $45,000 c. $23,000 d. $37,000

Valencia Inc. began 2024 with $75,000 in stockholders' equity. During the year, the company issued additional common stock for $15,000 and paid dividends of $22,000. At December 31, 2024, Valencia had $98,000 in total stockholders' equity. What was Valencia's net income for 2024? a. $30,000 b. $45,000 c. $23,000 d. $37,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 22EB: Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000...

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