Solved

Gem Corp Has $100 Million in Assets and $50 Million in in Liabilities

Question 114

Short Answer

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?
$50 million
$5 million
$45 million
$90 million
$95 million

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q109: Barry is a private accountant who is

Q110: To compute the current ratio, current assets

Q111: A(n) _ ratio estimates the risk associated

Q112: What are the three types of assets

Q113: _ are rules and procedures governing the

Q115: Financial statements fall into three broad categories,

Q116: What services do CAs and CGAs provide?

Q117: At Lexi Corp., sales revenue is $20

Q118: The financial statement detailing a firm's assets,

Q119: Which of the following is correct with