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What is the net income

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Reference no: EM132939464

Question - The following data are taken from the shareholders' equity section of the balance sheet of FLOOD CORP.

 

12.31.14

12.31.15

Ordinary shares (P100 par value)

625,000

637,500

Share premium in excess of par

312,500

362,500

Retained earnings

625,000

653,750

During 2015, the company declared and paid a cash dividend of P93,750 and also declared and issued a stock dividend. There were no other changes in stock issued and outstanding during 2015. What is the net income for 2015?

a. 185,000

b. 28,750

c. 122,500

d. 135,000

Reference no: EM132939464

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