The first year of operations for a company was Year 1. The net income for Year 1 was $20,900 and dividends of $12,450 were paid. In Year 2, the company reported net income of $34,900 and paid dividends of $5,450. At the end of Year 1, the company had total assets of $159,000. At the end of Year 2, the company had total assets of $ $249,000. Use the information above to answer the following question. What is the amount of retained earnings at the end of Year 2?
A) $240,000.
B) $269,000.
C) $29,000.
D) $37,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The first year of operations for a company was Year 1. The net income for Year 1 was $20,900 and dividends of $12,450 were paid. In Year 2, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Marketing is about?
Answers (1)
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 12 units at $5,400 $64,800 Aug. 7 Purchase 18 units at $6,000 108,000 Dec.
Answers (1)
A market: a. reflects upsloping demand and downsloping supply curves. b. always requires face-to-face contact between buyer and seller. c. is an institution that brings together buyers and sellers. d. entails the exchange of goods, but not services.
Answers (1)
You manage a risky portfolio with an expected rate of return of 18% and a standard deviation of 28%. The T-bill rate is 8%. Your client chooses to invest 70% of a portfolio in your fund and 30% in a T-bill money market fund.
Answers (1)
Some lawmakers were alarmed by roosevelts policies because he had abandoned a balanced budget and began to rely on
Answers (1)
New Questions in Business
When the consumer price index rises, the typical family a. has to spend more dollars to maintain the same standard of living. b. can spend fewer dollars to maintain the same standard of living. c. finds that its standard of living is not affected. d.
Answers (1)
A magazine subscription costs $45 per year at the beginning of each year, or $115 now for a three-year subscription. If the subscriber elects to pay the $115 now, the rate of return on the investment will be nearest to:
Answers (2)
The second step in rational decision making is to: choose the solution that maximizes value. identify the criteria that are important in making the decision. evaluate the alternatives. implement the alternative.
Answers (1)
What impact will a spike in wages cause to the labor demand curve?
Answers (1)
A company issued 8%, 15-year bonds with a par value of $500,000 that pay interest semiannually. The market rate on the date of issuance was 8%.
Answers (1)