Purrfect Pets had a beginning balance in its retained earnings account of $385,600. During the year, the

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Question:

Purrfect Pets had a beginning balance in its retained earnings account of $385,600. During the year, the company declared and paid a $4,700 dividend, and at the end of the year, it reported retained earnings of $399,860. The company's net income for the year was:

A. $14,260.

B. $18,960.

C. $9,560.

D. $0