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Mobile Power Corp ? What Was the Retained Earnings Balance for Mobile Power

Question 19

Multiple Choice

Mobile Power Corp.reported the following information for the year ended December 31, 2016.  Revenue $40,000 Expenses 23,000 Dividends 10,000 Retained earnings at December 31,2016175,000\begin{array}{lr}\text { Revenue } & \$ 40,000 \\\text { Expenses } & 23,000 \\\text { Dividends } & 10,000 \\\text { Retained earnings at December } 31,2016 & 175,000\end{array} ? What was the retained earnings balance for Mobile Power at December 31, 2015?


A) $ 165,000
B) $ 168,000
C) $ 182,000
D) $ 192,000

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