During 2008, BascomBakery paid out $33,525 of common dividends. It ended the year with$155,000 of retained earnings versus the prior year'sretained earnings of $159,600. How much net income did the firmearn during the year?
i) $23,719
ii) $28,057
iii) $24,008
iv) $28,925
v) $27,768