The Good Word Store Reported the Following Figures: Retained Earnings

question 125

Multiple Choice

The Good Word Store reported the following figures: Retained Earnings, January 31, 2017.........................$38,000,000
Retained Earnings, January 31, 2018.........................$15,000,000
Total Stockholders' Equity, January 31, 2017...........$30,000,000
Total Stockholders' Equity, January 31, 2018...........$26,000,000
The company's fiscal year ends on January 31 each year. Dividends declared for the fiscal year ending January 31, 2018 are $9,000,000. What is the net income or net loss for the fiscal year ending January 31, 2018?

• A)$9,000,000 net loss
• B)$14,000,000 net loss
• C)$23,000,000 net loss
• D)$6,000,000 net loss

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Definitions:

Puritan Colony

A settlement established by Puritans, who were English Protestants seeking to practice their religion without persecution, in the 17th century in New England.

Religious Conversion

The process of adopting a new religious belief different from one's previous faith, often accompanied by a formal declaration or ritual.

Muslims

Followers of Islam, a monotheistic Abrahamic religion founded on the teachings of Prophet Muhammad as presented in the Quran.

North Africa

A region consisting of countries along the Mediterranean coast, including Egypt, Libya, Tunisia, Algeria, and Morocco, known for its rich history, cultural diversity, and strategic economic importance.