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    cecilia86611's Avatar
    cecilia86611 Posts: 2, Reputation: 1
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    #1

    Feb 6, 2011, 03:24 PM
    How to get net income? ( Accounting/Finance)
    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 $790,000. What was the net income of jefferson motors for this year?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 6, 2011, 04:12 PM

    With the information provided you simply calculate the difference between your beginning and ending Retained Earnings and add the dividends paid, which will equal your net income for the year.
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