Pinson Company Began the Year with Retained Earnings of $570,000

question 23

Multiple Choice

Pinson Company began the year with retained earnings of $570,000. 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) $930,000
• B) $650,000
• C) $1,030,000
• D) $500,000

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Definitions:

Physical Deconditioning

The loss of physical fitness or muscle strength due to inactivity or lack of exercise, often leading to decreased functionality and health.

Bedridden

A state in which a person is confined to bed due to illness or disability, significantly limiting their mobility.

Heart Disease

A range of conditions that affect the heart, including coronary artery disease, heart rhythm problems (arrhythmias), and congenital heart defects, among others.

Moderate-intensity Physical Activity

Physical exercise that elevates the heart rate and breathes to a level where conversation is possible but may be a bit challenging, such as brisk walking or cycling.