The Balance Sheet of Copper Industries, a Producer of Copper

Multiple Choice

The balance sheet of Copper Industries, a producer of copper, showed retained earnings of $26,000 million at March 31, 20x1.At March 31, 20x2, the balance in retained earnings was $70,500 million .Copper declared dividends during the year ended March 31, 20x2, of $3,500 million.Compute Copper's net income for the year ended March 31, 20x2 (fiscal 20x1) .

A) $41.000 million
B) $44.500 million
C) $48.000 million
D) $53.500 million
E) $58.000 million