Question
Faith Homes, Inc. had beginning Retained Earnings of $156,570 on January 1, 2025. During the year, the company declared and paid $46,871 of cash dividends
Faith Homes, Inc. had beginning Retained Earnings of $156,570 on January 1, 2025. During the year, the company declared and paid $46,871 of cash dividends and earned $57,070 of net income. What is the balance in Retained Earnings on December 31, 2025?
A. 213,640
B. 260,511
C. 52,629
D. 166,769
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The Essential Controller An Introduction To What Every Financial Manager Must Know
Authors: Steven M. Bragg
2nd Edition
1118169972, 9781118169971
