Lansing Limited Had a Beginning Balance in Its Retained Earnings

question 154

Multiple Choice

Lansing Limited had a beginning balance in its Retained Earnings account of $385,600.During the year,the company declared and paid a $4,700 dividend,and at the end of the year,it reported Retained Earnings of $399,860.The company's net income for the year was:

• A) $14,260.
• B) $18,960.
• C) $9,560.
• D) $0.

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Definitions:

Package Carriers

Companies that specialize in the delivery of packages and documents.

Omni-Channel Supply Chain

A coordinated approach to inventory, distribution, and fulfillment across various channels to provide a seamless customer experience.

Responsive

The capacity to react quickly and positively to changes in the environment or market conditions.

Cost Effective

Achieving the desired outcome or result without wasting resources, particularly money, time, or effort.