pts)1. Heedy Company had the following account balances in 2016 and 2017, respectively.Assuming dividends of $20,000 were paid in 2017, how much was net income?2016$ 40,000210,000$ 314,000 $ 250,0002017$ 42,000Capital StockRetained EarningsTotal Stockholders' Equitya. $62,000b $82,000c. $272,000d, $252,000ong

Net Income = Change in Retained Earnings + Dividend paid Retained Earnings in 2017 = Total…

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how much was net income?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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