Multiple Choice
Henson Company began the year with retained earnings of $380,000.During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000.What was Henson's retained earnings balance at the end of the year?
A) $540,000
B) $460,000
C) $840,000
D) $500,000
Correct Answer:
Verified
Correct Answer:
Verified
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