Assume That Pacer Company's Paid- in Capital at the Beginning

question 170

Multiple Choice

Assume that Pacer Company's paid- in capital at the beginning of the period was $475,000. Pacer Company's total revenues and total expenses were $870,000 and $550,000, respectively. A dividend of $70,000 was declared and paid to shareholders. Pacer Company's net income is:

• A) $250,000
• B) $405,000
• C) $320,000
• D) $390,000

---

Definitions:

Jean Piaget

A Swiss psychologist known for his pioneering work in child development, particularly his theory of cognitive development that describes how children construct a mental model of the world.

Developmental Stage

A period in an individual's life characterized by distinct and typical patterns of behavior and psychological development.

Conservation

The understanding that the physical properties of objects, such as the number of items in a cluster or the amount of liquid in a glass, can remain the same even when their form or appearance changes.

Gender Typing

The process by which children learn the abilities, interests, and behaviors associated with being masculine or feminine in their culture.