Solved

Net Income Is $100,000 and Preferred Dividends Paid Are $100,000

Question 76

Multiple Choice

Net income is $100,000 and preferred dividends paid are $100,000 and common stock dividends paid are $100,000. Beginning retained earnings were $500,000. The ending balance in retained earnings would b:


A) $500,000
B) $300,000
C) $600,000
D) $400,000

Correct Answer:

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