Accounting Flow Intuition: BASE Formula Video Lessons

Concept

# Problem: If the beginning and ending balances in retained earnings are $10,000 and$18,000, respectively, and dividends during the year are $20,000, then net income for the year is a.$8,000 b. $30,000 c.$28,000 d. $38,000 e. Indeterminable from the data given ###### FREE Expert Solution ###### Problem Details If the beginning and ending balances in retained earnings are$10,000 and $18,000, respectively, and dividends during the year are$20,000, then net income for the year is

a. $8,000 b.$30,000

c. $28,000 d.$38,000

e. Indeterminable from the data given