Pinson Company Began the Year 2022 with Retained Earnings of $670,000.During

question 6

Multiple Choice

Pinson Company began the year 2022 with retained earnings of $670,000.During the year, the company sold additional shares of stock for $1,000,000, recorded revenues of $600,000, expenses of $380,000, and paid dividends of $140,000.What was Pinson's retained earnings balance at the end of 2022?

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

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Definitions:

Acquisition

The process where one company purchases another company or its assets.

Brand Equity

The value and strength a brand possesses that is built over time through consumer experiences, perceptions, and associations relative to competing brands.

Brand Extension

The process of broadening the use of an organization’s current brand to include new products.

Broadening Use

Expanding the scope or application of a product, service, or technology to new areas or purposes.