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

A)$10,000

Multiple Choice

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

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