XYZ Industries paid $ 25,000,000 million in dividends in 2013 The balance of retained earnings in...

XYZ Industries paid $ 25,000,000 million in dividends in 2013 The balance of retained earnings in 2012 was $ 250,000,000 and the balance of retained earnings in 2013 was $ 275,000,000 XYZ's net income in 2013 was

Expert Solution

Net Income - Dividends = Change in Retained Earnings

Net Income = Change in Retained Earnings + Dividends

Net Income = ($275,000,000 - $250,000,000) + $25,000,000

Net Income = $50,000,000

jeff jeffy answered 2 years ago

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