Multiple Choice
Rock Springs Company has beginning retained earnings of $600,000, earns a net income of $100,000, and pays dividends of $12,000 during the period.
The balance in Rock Springs' ending retained earnings is:
A) $688,000
B) $488,000
C) $712,000
D) $700,000
Correct Answer:
Verified
Correct Answer:
Verified
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