Question

The ending retained earnings balance of Juan's Mexican Restaurant chain increased by $6.9 million from the beginning of the year. The company declared a dividend of $2.4 million during the year. What was the amount of net income during the year

Answer 1

Answer:

the amount of net income during the year is $9.3 million

Explanation:

The computation of the net income is shown below:

= Increased in the retained earnings + dividend declared

= $6.9 million + $2.4 million

= $9.3 million

Hence, the amount of net income during the year is $9.3 million

The same should be considered and relevant