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Calculate the net income for the year

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Question - Tiptoe Shoes, had annual revenues of $195,000, expenses of $108,700, and paid dividends of $22,000 during the current year. The retained earnings account before closing had a balance of $307,000. The Net Income for the year is:

$195,000

$64,300

$86,300

$371,300

$393,300

Reference no: EM132035362

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