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3 June, 07:36

Willie Company's retained earnings increased $20,000 during 2016. What was Willie's 2016 net income or loss given that Willie declared $25,000 of dividends during 2016?

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Answers (2)
  1. 3 June, 08:25
    0
    45000
  2. 3 June, 10:12
    0
    The correct answer is $45,000

    Explanation:

    Willie Company's during the 2016 year:

    Willie Company's retained earnings increased $20,000 during 2016 Willie declared $25,000 of dividends during 2016

    In order to know the net income, is necessary to sum the retained earnings and the declared dividends.

    $20,000 (retained earnings) + $25,000 (declared dividends) = $45,000 net income

    Willie's 2016 net income was $45,000
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