INCIAL STATEMENT ANALYSIS Sectio 94_020114110_AAUP - JENIN) 1 / My courses / FINANCIAL STATEMENT ANALYSIS Section1 Lecture (20194_02011411 uiz 2 ed Smith Company had retained earnings of $60,000 at the end of the current year, For the current year, income was $30,000 and dividends $10,000, What was the balance in retained earnings at the end of the prior year? of stion Select one: O a. $40,000 b. $30,000 O c. $70,000 d. $30,000 O e. $60,000 Clear my choice FUJITSU CIAL STATEMENT ANALYSIS Sectic 1_020114110 AAUP - JENIN) y courses / FINANCIAL STATEMENT ANALYSIS Section1 Lecture (20194_020114 Luntt Co purchased an equipment that cost $28,000 with a salvage value estimated to $3,000 with a useful life of 7 years, Luntt uses double declining method, what is the depreciation expense for the second year? Select one: O a. 3,000 O b. 5,714 c. 8,000 O d. 7,143 Clear my choice FUJITSU