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Question 1: Jet Corporation's Retained Earnings decreased by $800,000 during the year. Also during the year, dividends were paid to shareholders. The opening balance of Retained Earnings for the period was $1,900,000. Top Corporation's net income for the year was:
a. Exactly equal to the amount of dividends
b. A positive amount
c. Smaller than the amount of the dividends paid
d. Not determinable from the information provided
e. A negative amount (a loss)
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