Heedy Company Had the Following Account Balances in 2011 and 2012

question 9

Multiple Choice

Heedy Company had the following account balances in 2011 and 2012, respectively. Assuming dividends of $20,000 were paid in 2012, how much was net income? $\begin{array}{|l|l|l|}\hline 2011 & 2012 & \\\hline \$ 40,000 & \$ 42,000 & \text { Capital Stock } \\\hline 210,000 & x & \text { Retained Earnings } \\\hline \$ 250,000 & \$ 314,000 & \text { Total Stockholders' 'Equity } \\\hline & & \\\hline\end{array}$

• A) $62,000
• B) $82,000
• C) $272,000
• D) $252,000

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