Maynard Enterprises paid $1,524 in dividends and $1,312 in interest over the past year. The common stock account increased by $1,392 andretained earnings decreased by $494. What was the company's net income?

Net income, also known as net profit, is the amount of revenue that remains after deducting all…

Answered: Maynard Enterprises paid $1,524 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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Maynard Enterprises paid $1,524 in dividends and $1,312 in interest over the past year. The common stock account increased by $1,392 and retained earnings decreased by $494. What was the company's net income?