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What was willie net income or loss given

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Problem 1: Willie Company's retained earnings increased $20,000 during 2016. What was Willie's 2016 net income or loss given that Willie declared $25,000 of dividends during 2016?

Option 1: Net income was $5,000.

Option 2: Net income was $45,000.

Option 3: Net loss was $45,000.

Option 4: Net loss was $5,000.

Reference no: EM132843930

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