16 The carrying value of bonds at maturity always equals: 16) A) the amount of discount or premium. B) $0. C) the amount of cash originally received in exchange for the bonds. D) the par value of the bond. E) the amount of cash originally received in exchange for the bonds plus any unamortized discount or less any premium. 17 Retained earnings: 17) A) Represents the amount shareholders are guaranteed to receive upon company liquidation. B) Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception. C) Are never adjusted for anything other than net income or dividends. D) Can only be appropriated by setting aside a cash fund. E) Represent an amount of cash available to pay shareholders. 18) A company had a beginning balance in retained earnings of $430,000. It had net income of S60,000 and paid out cash dividends of $56,250 in the current period. The ending balance in retained earnings equals: 18) A) $426,250. B) $433,750. C) $490,000. D) $116,250. E) $546,250