Question: Please explain the solution to this general accounting problem using the correct accounting principles. Rivera Co. paid $620 in dividends and $440 in interest during

Please explain the solution to this general accounting problem using the correct accounting principles.

Rivera Co. paid $620 in dividends and $440 in interest during the year. Common stock increased by $300 and retained earnings increased by $180. What is the net income for the year? a) $440 b) $620 c) $800 d) $180 e) $360

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