Multiple Choice
Sooner Company has had a net income of $8,000,$5,000,$12,000,and $10,000 over the first four years of the company's existence.If the average annual amount of dividends paid over the last four years is $3,000,what is the ending retained earnings balance?
A) $47,000.
B) $35,000.
C) $23,000.
D) $7,000.
Correct Answer:
Verified
Correct Answer:
Verified
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