8. During 2018, Wolseley Inc. reported net income of $200 and paid a $40 stock dividend. Wolseley's December 31, 2018 statement of financial position reported the following items: common stock = $220, capital surplus = $180, retained earnings = $300. What is the value of the retained earnings account for the December 31, 2018 statement of financial position? a $160 b. $340 c. $360 d. $460 e. $540 9. Mr. Alister, the CEO of Alister Plumbing, Inc., recently stated that the firm will maintain its current policy of borrowing $.40 for every $1 invested by shareholders. Mr. Webster was referring to the policy of the firm. a. Capital budgeting b. Working capital c. Capital structure d. Capital investment c. Financial planning 10. Carl has just been elevated to the position of working capital manager. As part of his duties, Carl will be responsible for: a. Allocating manufacturing overhead. b. Controlling labour costs. c. Pricing manufactured goods. d. Managing long-term debt. c. Overseeing accounts payable