At the Beginning of the Year, Paid-In Capital Was $164

question 53

Multiple Choice

At the beginning of the year, paid-in capital was $164 and retained earnings was $94.During the year, the stockholders invested $48 and dividends of $12 were declared and paid.Retained earnings at the end of the year were $104. Net income for the year was:

• A)$20
• B)$22
• C)$30
• D)$40

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