The following summary balance sheet account categories of Sun Company increased during 2013 by the amounts shown: Assets .....................$178,000 Liabilities ...........................$54,000
Capital Stock ............$120,000 Additional Paid-in Capital ....$12,000
The only change to retained earnings during 2013 was for $26,000 of dividends.What was Sun Company's net income for 2011?
A) $34,000
B) $26,000
C) $18,000
D) $8,000

Question

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The Answer of The following summary balance sheet account categories of Sun Company increased during 2013 by the amounts shown: Assets .....................$178,000 Liabilities ...........................$54,000
Capital Stock ............$120,000 Additional Paid-in Capital ....$12,000
The only change to retained earnings during 2013 was for $26,000 of dividends.What was Sun Company's net income for 2011?
A) $34,000
B) $26,000
C) $18,000
D) $8,000

The Following Summary Balance Sheet Account Categories of Sun Company