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13 April, 16:38

During 2014, Bascom Bakery paid out $33,525 of common dividends. It ended the year with $197,500 of retained earnings versus the prior year's retained earnings of $159,600. How much net income did the firm earn during the year

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  1. 13 April, 16:45
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    the Net Income during the year is $71,425

    Explanation:

    Formula: Net Income = Change in retained earnings + dividends paid

    Current year Retained Earnings = $ 197,500

    Less: Previous year Retained Earnings = $ 159,600

    Change in retained earnings = $ 37,900

    Net Income = Change in retained earnings + dividends paid

    Net Income = - $37,900 + $ 33,525

    So Net Income = $71,425
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Home » Business » During 2014, Bascom Bakery paid out $33,525 of common dividends. It ended the year with $197,500 of retained earnings versus the prior year's retained earnings of $159,600. How much net income did the firm earn during the year
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