If beginning retained earnings was $184,300,the company distributed $46,000 in dividends,and ending retained earnings was $345,000,what was the net income for the period?
A)$154,700
B)$206,700
C)$114,700
D)$575,300
E)$160,700

Question

Quizplus · Accepted Answer

Net Income = Ending Retained Earnings - Beginning Retained Earnings - Dividends
Net Income = $345,000 - $184,300 - $46,000
Net Income = $114,700

If Beginning Retained Earnings Was $184,300,the Company Distributed $46,000 in Dividends,and