Question
ABC Inc. had beginning retained earnings of $64,080. During the year, the company reported sales of $127,800, costs of $89,900, depreciation of $11,200, dividends of
ABC Inc. had beginning retained earnings of $64,080. During the year, the company reported sales of $127,800, costs of $89,900, depreciation of $11,200, dividends of $2,800, and interest paid of $3,400. The tax rate is 35%. What is the retained earnings balance at the end of the year?
| a. | $75,445 | |
| b. | $83,600 | |
| c. | $78,245 | |
| d. | $68,455 | |
| e. | $76,425 |
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Mastering Islamic Finance
Authors: Faizal Karbani
1st Edition
1292001445, 978-1292001449
