Pinson Company Began the Year with Retained Earnings of $670,000

question 131

Multiple Choice

Pinson Company began the year with retained earnings of $670,000. During the year, the company recorded revenues of $600,000, expenses of $380,000, and paid dividends of $140,000. What was Pinson's retained earnings at the end of the year?

• A)$1,030,000
• B)$750,000
• C)$1,130,000
• D)$600,000

---

Definitions:

Investment Account

A financial account held at a financial institution that contains securities, cash, and other assets managed for the purpose of achieving an investment goal.

Related Income

Income generated from transactions or relationships between affiliated entities or parties.

Revaluation

The process of adjusting the exchange rate of a currency or the value of assets and liabilities to reflect their true value.

Zebrafish

A small freshwater fish often used in scientific research due to its genetic similarities to humans.