Ivan's, Incorporated, paid $500 in dividends and $595 in interest this past year. Common stock increased by$205 and retained earnings decreased by $131. What is the net income for the year?a. $964O b. $800O c.$595O d.$369O e.$500

Stockholders' equity: The net assets that remain accessible to shareholders after all obligations…

Answered: Ivan's, Incorporated, paid $500 in…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 21EA: James Corporation earned net income of $90,000 this year. The company began the year with 600 shares...

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Ivan's, Incorporated, paid $500 in dividends and $595 in interest this past year. Common stock increased by $205 and retained earnings decreased by $131. What is the net income for the year? O a. $964 O b. $800 O c. $595 O d. $369 Oe. $500