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The Following Data Are Extracted from the Stockholders' Equity Section

Question 13

Multiple Choice

The following data are extracted from the stockholders' equity section of the balance sheet of Guthrie Corporation:
The following data are extracted from the stockholders' equity section of the balance sheet of Guthrie Corporation: During 2011, the corporation declared and paid cash dividends of $7,500 and also declared and issued a stock dividend. There were no other changes in stock issued and outstanding during 2011. Net income for 2011 was A) $2,300. B) $9,800. C) $10,800. D) $14,800.
During 2011, the corporation declared and paid cash dividends of $7,500 and also declared and issued a stock dividend. There were no other changes in stock issued and outstanding during 2011. Net income for 2011 was


A) $2,300.
B) $9,800.
C) $10,800.
D) $14,800.

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