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What was the amount of net income for the year

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Problem 1: A company has $125,000 in retained earnings at the beginning of the year and $137,000 at the end of the year. During the year it declared and paid dividends of $16,000. What was the amount of net income for the year?

Group of answer choices

Option 1: $28000

Option 2: Negative $4000

Option 3: $0

Option 4: $4000

 

Reference no: EM132627640

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