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Ivan's, Inc., paid $474 in dividends and $582 in interest this past year. Common stock increased by $192 and retained earnings decreased by $118. What is the net income for the year?

Respuesta :

Ritmeks

Answer:

$356

Explanation:

Ivan incorporation paid $474 in dividend

$582 was paid in interest

Common stock increased by $192

Retained earnings decreased by $118

Therefore the net income for the year can be calculated as follows

= Dividend - decrease in retained earnings

= $474-$118

= $356

Hence the net income for the year is $356

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