Stosch Company's Balance Sheet Reported Assets of $40,000,liabilities of $15,000

question 100

Multiple Choice

Stosch Company's balance sheet reported assets of $40,000,liabilities of $15,000 and common stock of $12,000 as of December 31,2015.If Retained Earnings on the December 31,2016 balance sheet is $18,000 and Stosch paid a $14,000 dividend during 2016,then the amount of net income for 2016 was which of the following?

• A)$17,000
• B)$19,000
• C)$13,000
• D)$21,000

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Definitions:

Normally Distributed Populations

Populations in which the distribution of traits or characteristics follows a normal distribution curve, indicating a symmetrical spread around the mean.

T-test

A statistical test used to determine if there is a significant difference between the means of two groups which may be related in certain features.

Sampling Distribution

The probability distribution of a statistic based on a large number of samples drawn from a specific population.

Sample Mean Difference

The calculated disparity between the mean values of two samples from different populations or treatments.