Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with $187,500 of retained earnings versus the prior year's retained earnings of $132,250. How much net income did the firm earn during the year

The options are :

$77,000 $80,850 $84,893 $89,137 $93,594

The correct option is the first one ,$77,000

Explanation:

The net income can be ascertained using the ending retained earnings formula provided thus:

ending retained earnings=beginning retained earnings+net income-dividends

ending retained earnings is $187,500

beginning retained earnings is $132,250

dividends paid during the year was $21,750

By changing the subject of the formula,net income formula is derived:

net income=ending retained earnings-beginning retained earnings+dividends

net income=$187,500-$132,250+$21,750=$ 77,000.00  

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know