In 2020, Bouchard Enterprises Reported Net Income of $75,000 and Declared

question 3

Multiple Choice

In 2020, Bouchard Enterprises reported net income of $75,000 and declared a dividend of $40,000. The dividend is to be paid on February 1, 2021 to shareholders of record on January 15, 2021. The balance in the retained earnings account on January 1, 2020 was $140,000. At Bouchard's year end on December 31, 2020 the company reported the following ending balance for retained earnings on the statement of changes in shareholders' equity:

• A) $35,000.
• B) $115,000.
• C) $175,000.
• D) $215,000.

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Definitions:

Social Readjustment Rating Scale

A scale that measures the stressfulness of life events to predict the impact of stress on health.

Major Life Changes

Significant events or transitions in an individual's life that can have profound psychological and emotional impact, such as marriage, divorce, or loss of a loved one.

Stressors

External pressures or events that cause stress, challenging an individual's ability to cope and potentially affecting their well-being.

General Adaptation Syndrome

A model that describes the body's short-term and long-term reactions to stress, introduced by Hans Selye, consisting of three stages: alarm, resistance, and exhaustion.