Willie Company's Retained Earnings Increased $20,000 During 2010

question 114

Multiple Choice

Willie Company's retained earnings increased $20,000 during 2010.What was Willie's 2010 net income or loss given that Willie declared $25,000 of dividends during 2010?

• A)Net income was $5,000.
• B)Net income was $45,000.
• C)Net loss was $45,000.
• D)Net loss was $5,000.

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Definitions:

Predicting Behavior

Predicting behavior involves the use of psychological, social, and biological indicators to forecast an individual's future actions or reactions.

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A personality trait marked by organization, dependability, and a strong sense of duty.

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A personality trait signifying the extent to which a person is calm, secure, and steady, opposite of neuroticism.