Snowberry Corporation Had a Net Increase in Retained Earnings of $182,000

Multiple Choice

Snowberry Corporation had a net increase in Retained Earnings of $182,000 for the year.The corporation also paid $56,000 of cash dividends that had been declared in the previous year.This year,the corporation declared $50,400 of dividends but has not paid them as of year-end.Given this information,the net income for the current year must have been:

A) $176,400
B) $238,000
C) $182,000
D) $232,400