The following is a summary of the increases in the account categories of the balance sheet of Riley Company for the most recent fiscal year:

The only change to retained earnings during the fiscal year was for $20,000 of dividends. What was the company's net income for the fiscal year?
A) $25,000
B) $15,000
C) $5,000
D) $20,000

Question

The following is a summary of the increases in the account categories of the balance sheet of Riley Company for the most recent fiscal year:

The only change to retained earnings during the fiscal year was for $20,000 of dividends. What was the company's net income for the fiscal year?
A) $25,000 
B) $15,000 
C) $5,000 
D) $20,000

Quizplus · Accepted Answer

The Answer of The following is a summary of the increases in the account categories of the balance sheet of Riley Company for the most recent fiscal year:

The only change to retained earnings during the fiscal year was for $20,000 of dividends. What was the company's net income for the fiscal year?
A) $25,000 
B) $15,000 
C) $5,000 
D) $20,000

The Following Is a Summary of the Increases in the Account