Multiple Choice
Gowen, Inc. began the year with equity of $1,000,000 and 100,000 shares of stock outstanding. During the year the firm paid a dividend of $1.50 per share. Year-end equity was $1,100,000. Assuming no other factors impacted equity, what was Gowen, Inc.'s net income for the year?
A) $100,000
B) $150,000
C) $200,000
D) $250,000
E) $300,000
Correct Answer:
Verified
Correct Answer:
Verified
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