Question - Heedy Company had the following account balances in 2010 and 2011, respectively. Assuming dividends of $20,000 were paid in 2011, how much was net income?
|
|
2011
|
2010
|
|
Capital Stock
|
$42,000
|
$40,000
|
|
Retained Earnings
|
x
|
210,000
|
|
Total Stockholders' Equity
|
$314,000
|
$250,000
|
a. $62,000
b. $82,000
c. $272,000
d. $252,000