On January 1, 2016, Francisco Company's Balance in Retained Earnings

question 173

Multiple Choice

On January 1, 2016, Francisco Company's balance in retained earnings was $80,000.During 2016, the company earned net income of $43,000 and paid $15,000 in dividends.Calculate the retained earnings balance at December 31, 2016.

• A) $42,000
• B) $90,000
• C) $98,000
• D) $108,000

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