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Capstone Corp. reported $150,000 of comprehensive income for year 8. It also reported the following: Boints Beginning retaine
ipped What was Capstones net income for year 8? Book Multiple Choice Ο rences Ο $40,000 Ο Ο $120,000
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Answer #1

Calculation of Capstones Net Income Closing Blance of Retained Earnings $ 3,20,000 Add: Cash dividend declared $ 80,000 Add:Net Income is add to retained Earnings Opening balance and dividend are decreased from opening retained earnings balance.

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