Salt Co. had a balance in retained earnings of $38,750 at the end of 2016....
70.2K
Verified Solution
Link Copied!
Question
Accounting
Salt Co. had a balance in retained earnings of $38,750 at the end of 2016. During 2017, the company declared $21,000 of dividends and paid $14,250 of previously declared (2016) dividends. If the company had retained earnings of $45,900 after closing the accounting records for 2017, then how much net income did Salt Co. generate in 2017?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.