Question
I also need some assistance with this one. I think the answer is $1,150,000. A company's retained earnings at the beginning of the year is
I also need some assistance with this one. I think the answer is $1,150,000.
A company's retained earnings at the beginning of the year is $1 million. It paid $100,000 in dividends, had $250,000 in net income, and its goodwill increased by $10,000. What is its retained earnings as of the end of the year?
A. $1,260,000
B. $1,150,000
C. $1,160,000
D. $1,250,000
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Financial Management Principles and Application
Authors: Arthur J. Keown, J. William Petty, David F. Scott, Jr.
10th edition
536514119, 536514110, 978-0536514110
