Calculation of net income from the change in shareholders' equity
Presented below are changes in all account balances of Heys Inc. during last year, except for retained earnings.
The only entries in retained earnings were for net income and a dividend declaration of $12,000.
Instructions
Calculate the net income for last year.
Definitions:
Ultraviolet Radiation
The ultraviolet part of the electromagnetic spectrum.
Surface Environments
The external conditions and factors that influence the Earth's lithosphere, hydrosphere, atmosphere, and biosphere.
Steep Mountain Front
The abrupt boundary where the relatively flat terrain transitions into a steep mountain slope, often indicative of tectonic activity or erosion.
River Channel
The physical confine of a river, consisting of a bed and banks, within which water flows in a significantly regulated manner.
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