Please help, I asked this question already on chegg, but answerer was wrong. This means there is only 3 possible answer, please only answer if you know it's right :). (Answer is not 589, nor 952 as shown in the images below.

Multiple choice please help! - My first try was wrong, thank you for your time! Ivan's, Inc. paid $488 in dividends and $589 in interest this past year. Common stock increased by $199 and retained earnings decreased by $125. What is the net income for the year? O $363 O $952 O $488 $589 O $788 Show transcribed image text Expert Answer Anonymous answered this Was this answer helpful? 0 23 answers Retain earning is decreased by 125S it means that the profit for the year were insufficient to pay the whole of dividend hence 125$ of dividend were paid out of reserve Thus profit for the year- interest+ (dividend- change in reserve) 589 (488-125) =589+363 -952$ View comments (1)