Heedy Company Had the Following Account Balances in 2016 and 2017

question 41

Multiple Choice

Heedy Company had the following account balances in 2016 and 2017, respectively.Assuming dividends of $20,000 were paid in 2017, how much was net income? $\begin{array}{lrr} & \mathbf{2 0 1 7} & \underline{\mathbf{2 0 1 6}} \\\text { Capital Stock } & \$ 42,000 & \$ 40,000 \\\text { Retained Earnings }& x & 210,000 \\\text { Total Stockholders' Equity } & \$ 314,000 & \$ 250,000 \\\end{array}$

• A) $62,000
• B) $82,000
• C) $272,000
• D) $252,000

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Definitions:

Sensorimotor Period

Another term for the sensorimotor stage in cognitive development, emphasizing the timeframe in which infants explore the world through senses and motor actions.

New Adaptation

The process or state of changing to fit a new environment or different conditions, often referring to biological, psychological, or social adjustments.

Language Development

The process by which children come to understand and communicate language during early childhood.

Sensorimotor Intelligence

Piaget's first stage of cognitive development, spanning from birth to about 2 years, where infants learn through interacting with the world via their senses and actions.