Quartz Instruments had retained earnings of ($ 145,000) at December 31, 2019. Net income for 2020 totalled
Question:
Quartz Instruments had retained earnings of \(\$ 145,000\) at December 31, 2019. Net income for 2020 totalled \(\$ 90,000\), and dividends for 2020 were \(\$ 30,000\). How much retained earnings should Quartz report at December 31, 2020?
a. \(\$ 205,000\)
b. \(\$ 235,000\)
c. \(\$ 140,000\)
d. \(\$ 175,000\)
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Related Book For 
Financial Accounting
ISBN: 9780135433065
7th Canadian Edition
Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin
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