Panmar Inc

question 62

Multiple Choice

Panmar Inc.is preparing a statement of stockholders' equity for 2019.On January 1,2019,Panmar started the year with a $200,000 credit balance in its retained earnings account.During 2019,the company earned net income of $140,000.Panmar declared dividends of $80,000 and paid $50,000 of those dividends.Also,the company received cash of $100,000 for additional shares of common stock issued and then paid $30,000 to repurchase shares of common stock.What is the balance in retained earnings on December 31,2019?

• A)$260,000.
• B)$290,000.
• C)$330,000.
• D)$390,000.

---

Definitions:

Psychological Descriptions

Narratives or analyses that detail an individual's mental characteristics, behaviors, or processes.

Indirect Message

Communication that is not straightforward and uses suggestion or innuendo to convey the message.

Quick Response

A method designed to provide immediate feedback or action.

Problem-solving Message

A communication aimed at addressing and providing solutions for a specific issue or challenge.