Car and Auto Sisters Had Retained Earnings of $18,000 on the Balance

Multiple Choice

Car and Auto Sisters had retained earnings of $18,000 on the balance sheet but disclosed in the footnotes that $3,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?

A) $14,000
B) $15,000
C) $18,000
D) $12,000