During the Year, Bascom Bakery Inc

question 22

Multiple Choice

During the year, Bascom Bakery Inc.paid out $21,750 of common dividends.It ended the year with $187,500 of retained earnings versus the prior year's retained earnings of $132,250.How much net income did the firm earn during the year?

• A)$77,000
• B)$80,850
• C)$84,893
• D)$89,137
• E)$93,594

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Definitions:

AIDS

Acquired Immunodeficiency Syndrome, a chronic, potentially life-threatening condition caused by the human immunodeficiency virus (HIV) that damages the immune system.

Unprotected Sex

Engaging in sexual activities without the use of contraceptives or barrier methods, increasing the risk of sexually transmitted infections (STIs) and unwanted pregnancies.

HIV

Human Immunodeficiency Virus, a virus that attacks the immune system and can lead to AIDS if not treated.

Market Economy

An economic system in which production and prices are determined by unrestricted competition between privately owned businesses.