At the end of last year jefferson motors had 100,000 shares of common stock with a balance of $185,000, retained earnings of $710,000, and total stockholders equity of $895,000. This year jefferson paid a dividend of $80,000 and its end of year retained earnings were $800,000. What was the net income of jefferson motors for this year?

Beginning Balance of Retained Earnings
+ Net Income
- Dividends
= Ending Balance of Retained Earnings

Only two things affect retained earnings: net income (or loss) and dividends. You have 3 of the 4 figures. If you plot in what you know, you can work to the only one you don't know.