On December 31,2018,the Balance in Retained Earnings Is $40,000

question 122

Multiple Choice

On December 31,2018,the balance in Retained Earnings is $40,000.On December 31,2019,the balance in Retained Earnings is $38,200.During 2019,dividends of $8,000 were declared and paid.What is the amount of net income for 2019?

• A)$9,800
• B)$6,200
• C)$1,800
• D)($1,800)

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Definitions:

Independent Board

A group of directors in an organization who do not have any conflicts of interest and are not part of the day-to-day management, ensuring unbiased oversight and decision-making.

Organizational Performance

The measure of how efficiently and effectively a company or organization reaches its goals and objectives.

Ethical Leadership

A style of leadership that involves leading in a manner that respects the rights and dignity of others, ensuring fairness, justice, and equity in decision making.

Employee Trust

The confidence employees have in the reliability, integrity, and fairness of their employer and its leaders.