Magnum Corporation earned net income of $32,000 and paid cash dividends of $8,500 to its stockholders. Which of the following choices reflects the effect of closing entries on Magnum's financial statements? 
Definitions:
Stage Theorist
A psychologist or theorist who proposes that development occurs in distinct, progressive stages over the lifespan.
Cognitive Competence
The ability to effectively employ various cognitive processes, such as attention, memory, and problem-solving.
Task Demands
The specific requirements or challenges that a particular task imposes on an individual, including cognitive, physical, and emotional effort.
Pediatricians
Medical doctors specializing in the care and development of children and the diagnosis and treatment of children's diseases.
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