The Following Is a Summary of the Increases in the Account

question 26

Multiple Choice

The following is a summary of the increases in the account categories of the balance sheet of Riley Company for the most recent fiscal year:

The only change to retained earnings during the fiscal year was for $20,000 of dividends.What was the company's net income for the fiscal year?

• A)$25,000
• B)$15,000
• C)$5,000
• D)$20,000