The Retained Earnings balance of Jayhawk Company at December 31, 2013, was $23,000. The December 31, 2014, balance of Retained Earnings was $31,000. Dividends of $3,000 were paid during 2014. The only other change in the Retained Earnings account was due to net income. The net income of Jayhawk Company during 2014 was
a. $5,000.
b. $8,000.
c. $11,000.
d. $14,000.
e. $20,000.
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