Vandever Company's balance sheet reported assets of $42,000, liabilities of $15,000 and common stock of $12,000 as of December 31, 2012. If Retained Earnings on the December 31, 2013 balance sheet is $18,000 and Vandever paid a $14,000 dividend during 2013, then the amount of net income for 2013 was which of the following?

A. $17,000

B. $15,000

C. $3,000

D. None of these

Answer rating: 100% (QA)

A 17000 If assets on December 31 2012 totaled 42000 t... View the full answer