Question
The pro forma financials for a firm show the following. The retained earnings balance for this firm at the end of August 2021 is $150,000.
The pro forma financials for a firm show the following. The retained earnings balance for this firm at the end of August 2021 is $150,000. In September 2021, this firm pays a quarterly cash dividend of $30,000 and has net income after taxes equal to $25,000. This firm neither sells nor buys stocks or bonds, or any other securities, during this time. The retained earnings balance for this firm at the end of September 2021 is:
| a. | $95,000 | |
| b. | $155,000 | |
| c. | $175,000 | |
| d. | $145,000
|
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett
7th Edition
0073530751, 9780073530758
