Multiple Choice
The net income of Hendley, Inc. for the year is $35,000. The dividends declared during the year were $43,000. Which of the following statements is true?
A) Retained Earnings account decreases by $35,000.
B) Retained Earnings account decreases by $8,000.
C) Retained Earnings account increases by $43,000.
D) Retained Earnings will remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
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