Changes in account balances of Multi-Plus Inc. during 2012 were:
Increase
Assets $420,000
Liabilities 125,000
Capital Stock 100,000
Additional Paid-In Capital 140,000
Retained Earnings?

Assuming that there were no charges to retained earnings other than dividends of $62,000, the net income for 2010 was:

1. a. (7,000)
2. b. 55,000
3. c. 117,000
4. d. 257,000
5. e. none of the answers are correct

Answer rating: 100% (QA)

Correct Answer Option C 117000 Working A Increase in asssets 420000 I... View the full answer