During 2008, Bascom Bakery Paid Out $33,525 of Common Dividends

question 47

Multiple Choice

During 2008, Bascom Bakery paid out $33,525 of common dividends. It ended the year with $197,500 of retained earnings versus the prior year's retained earnings of $159,600. How much net income did the firm earn during the year?

• A) $71,425
• B) $74,996
• C) $78,746
• D) $82,683
• E) $86,818

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