Question
QUESTION 33 Gem Corp. has $100 million in assets and $50 million in liabilities. Last year, the company earned $10 million in net profit
QUESTION 33 Gem Corp. has $100 million in assets and $50 million in liabilities. Last year, the company earned $10 million in net profit and paid out $5 million in dividends to shareholders. What are the retained earnings for the company? a. $90 million b. $50 million c. $45 million d. $95 million e. $5 million
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
