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A Firm's Year-End Retained Earnings Balances Are $670,000 and $560,000

Question 31

Multiple Choice

A firm's year-end retained earnings balances are $670,000 and $560,000, for 2014 and 2015 respectively. The firm paid $10,000 in dividends in 2015. The firm's net profit after taxes in 2015 was ________.


A) -$100,000
B) -$110,000
C) $100,000
D) $110,000

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