The Following Is a Summary of the Increases in the Account

question 80

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

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