At the Beginning of the Year, Paid-In Capital Was $82

question 6

Multiple Choice

At the beginning of the year, paid-in capital was $82 and retained earnings was $47. During the year, the stockholders invested $24 and dividends of $6 were declared and paid. Retained earnings at the end of the year were $52. Net income for the year was:

• A) $10
• B) $11
• C) $15
• D) $20

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