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Parker, Inc. had a beginning balance in its Retained Earnings account of $386,200. During the year, the company declared and paid a $4,820 dividend and, at the end of the year, it reported Retained Earnings of $401,060. The company's net income for the year was:___________
a) $19,740
b) $14,910
c) $10,08
d) $0

Respuesta :

akindelemf

Answer:

The company's net income for the year was $19680

Explanation:

Ending Retained earnings=Beginning Retained earnings+Net income-Dividends

401,060 = 386,200 + Net income - 4820

Net income = (401,060 + 4820 - 386200)

                     =$19680.

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