Multiple Choice
Ningbo Steel had year end 2011 and 2012 retained earnings balances of $5,000,000 and $6,000,000 respectively. The firm paid $100,000 of dividends in 2012. Based on this information, Ningbo Steel's net profit after taxes in 2012 was:
A) $100,000
B) $900,000
C) $1,000,000
D) $1,100,000
Correct Answer:
Verified
Correct Answer:
Verified
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