Willie Company's Retained Earnings Increased $20,000 During 2014

question 2

Multiple Choice

Willie Company's retained earnings increased $20,000 during 2014. What was Willie's 2014 net income or loss given that Willie declared $25,000 of dividends during 2014?

• A) Net income was $5,000.
• B) Net income was $45,000.
• C)Net loss was $45,000.
• D)Net loss was $5,000.

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