Mobile Power Corp ? What Was the Retained Earnings Balance for Mobile Power

question 19

Multiple Choice

Mobile Power Corp.reported the following information for the year ended December 31, 2016. $\begin{array}{lr}\text { Revenue } & \$ 40,000 \\\text { Expenses } & 23,000 \\\text { Dividends } & 10,000 \\\text { Retained earnings at December } 31,2016 & 175,000\end{array}$ ? What was the retained earnings balance for Mobile Power at December 31, 2015?

• A) $ 165,000
• B) $ 168,000
• C) $ 182,000
• D) $ 192,000

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Definitions:

Lens

A transparent structure in the eye that focuses light onto the retina to create clear images.

Lens

A transparent optical device used to converge or diverge transmitted light and to form images.

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Having a shape or cross-section that is circular or nearly circular; often used to describe objects or shapes.

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Objects that are situated near to one another in spatial terms.