Vance companys balance sheet reported assets of 11900, Ask an Expert

Accounting

Vance Company's balance sheet reported assets of $11,900, liabilities of $4,500 and common stock of $1,600 as of December 31, 2010. If Retained Earnings on the December 31, 2011 balance sheet is $9,000 and Vance paid a $2,000 dividend during 2011, then the amount of net income for 2011 was which of the following?

$11,000

$3,800

$5,200

None of these.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91524227

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