The Following Information Is Provided by the Ferrara Corporation What Is the Net Income for Ferrara Corp

Multiple Choice

The following information is provided by the Ferrara Corporation: $$\begin{array} { l l } \text { Beginning retained earnings } & \$ 50,000 \\\text { Ending retained earnings } & 70,000 \\\text { Dividends declared and paid } & 10,000 \\\text { Revenue } & 50,000\end{array}$$ What is the net income for Ferrara Corp.?

A) $10,000
B) $20,000
C) $30,000
D) Unable to tell from the information provided.