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    omolara5's Avatar
    omolara5 Posts: 1, Reputation: 1
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    Mar 1, 2010, 07:00 PM
    Retained earnings and net income
    Beginning retained earning balance is $100,000, ending retained balnce is 120,000 less 60000 dividend paid ,what was net income?
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    ROLCAM Posts: 1,420, Reputation: 23
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    Mar 1, 2010, 10:42 PM

    Beginning = 100,000
    Net Income= 80,000
    sub-total *= 180,000
    Dividend **= 60,000
    ending****= 120,000

    ANSWER = Net Income = $80,000
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