Tarp Corporation - Refer to the Selected Information Provided for Tarp Corporation

question 77

Multiple Choice

Tarp Corporation
$\begin{array}{ll}\text { Beginning retained earnings } & \$ 550,000 \\\text { Ending retained earnings } & 700,000 \\\text { Dividends paid } & 100,000 \\\text { Revenue } & 525,000\end{array}$
- Refer to the selected information provided for Tarp Corporation. What is the net income for Tarp Corporation?

• A) $150,000
• B) $250,000
• C) $525,000
• D) $350,000

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Definitions:

France

A country located in Western Europe known for its rich history, culture, and contributions to art, science, and philosophy.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, making them partial owners of the company.

Legal Persons

Entities, such as corporations or governmental bodies, that are recognized by law as having rights and responsibilities similar to natural persons.

Corporate Power

The legal authority and inherent capacities that a corporation possesses to conduct business, enter into contracts, and own assets.