Question
The beginning retained earnings balance of Lambert Inc. at 1/1/20X1 was $1.5 million. During 20X1, the company earned net income of $3.5 million, paid dividends
The beginning retained earnings balance of Lambert Inc. at 1/1/20X1 was $1.5 million. During 20X1, the company earned net income of $3.5 million, paid dividends of $1 million, and issued $2 million worth of stock. What is the ending retained earnings balance of Lambert at 12/31/20X1?
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| A. $2.0 million. | |
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| B. $4.0 million. | |
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| C. $5.0 million. | |
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| D. $6.0 million. |
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Environmental Health And Safety Audits
Authors: Lawrence B. Cahill
8th Edition
0865878250, 978-0865878259
