Question: Petgirl Company earned 25 000 of revenues and incurred 12 950 worth
Petgirl Company earned $25,000 of revenues and incurred $12,950 worth of expenses during the period. Petgirl also declared and paid dividends of $1,500 to its shareholders. What was net income for the period? Assuming this is the first year of operations for Petgirl, what is the balance in retained earnings at the end of the period?
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