Moore Industries Began Operations on January 2, 2016, with an Investment

question 99

Multiple Choice

Moore Industries began operations on January 2, 2016, with an investment of $50,000 by each of its two stockholders.Net income for its first year of business was $240,000.Moore Industries paid a total of $100,000 in dividends to its stockholders during the year.
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-Read the information about Moore Industries.What is the company's retained earnings balance at December 31, 2016?

• A) $140,000
• B) $190,000
• C) $240,000
• D) $340,000

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Definitions:

Market Savvy

A leader’s ability to be accountable for the products and services they deliver in a local market.