Multiple Choice
The income statement for August indicates net income of $100,000.The corporation also paid $25,000 in dividends during the same period.If the company is in operation for only one month and has no beginning balance in retained earnings, what is the ending balance in retained earnings?
A) $75,000
B) $100,000
C) $20,000
D) $125,000
Correct Answer:
Verified
Correct Answer:
Verified
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