The Home Store Reported the Following Figures: Retained Earnings, February

question 147

Multiple Choice

The Home Store reported the following figures: Retained Earnings, February 1, 2017...........$18 million
Retained Earnings, February 1, 2016...........$19 million
The company's fiscal year ends on February 1 each year. Net income for the fiscal year ending February 1, 2017 is $22 million. What is the amount of dividends declared for the fiscal year ending February 1, 2017?

• A)$19 million
• B)$23 million
• C)$3 million
• D)$22 million

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Definitions:

Unmarried

The state of not being legally joined to another person in a marriage.

Closely Related

Pertains to entities, individuals, or subjects having a strong connection or significant relevance to one another.

Family Law

A legal practice area concerned with issues such as marriage, divorce, child custody, adoption, and domestic relations.

Legal Relationships

Connections between entities or individuals that are recognized and regulated by law, such as contractual agreements or familial ties.