5. The amount shown on the December 31, 2015, balance sheet as "retained earnings" is equal to the firm's net income for 2015 minus any dividends it paid. a. True b. False If your answer is false, what is the correct answer: 6. Consider the following balance sheet, for Alara Corporation. Alara has RM700,000 of retained earnings, we know that the company would be able to pay cash to buy an asset with a cost of $300,000. Cash Inventory Accounts receivable $ 50,000 200,000 250,000 Total CA $ 500,000 Net fixed assets $ 900,000 Total assets a. True $1,400,000 Accounts payable Accruals Total CL Long-term debt Common stock Retained earnings Total L & E $ 100,000 100,000 $ 200,000 200,000 200,000 800,000 $1,400,000 b. False If your answer is false, what is the correct