Cape CoStarted Business This Year

question 223

Multiple Choice

Cape Co.started business this year.For this year,it had revenues of $240,000,expenses of $180,000 and cash flows from operating activities of $48,000,and paid dividends of $6,000.What is the amount of Retained Earnings at the end of Cape's first year of operations?

• A)$42,000
• B)$48,000
• C)$54,000
• D)$114,000