Mr Husker's Tuxedos, Corp

question 46

Multiple Choice

Mr. Husker's Tuxedos, Corp. began the year 2018 with $205 million in retained earnings. The firm earned net income of $30 million in 2018 and paid $5 million to its preferred stockholders and $12 million to its common stockholders. What is the year-end 2018 balance in retained earnings for Mr. Husker's Tuxedos?

• A) $193,000,000
• B) $200,000,000
• C) $213,000,000
• D) $218,000,000

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Definitions:

Secondary Group

A group that is relatively large in number and not as intimate or long in duration as a primary group.

Primary Groups

Small, close-knit, and usually long-term social groups in which members share deep, personal, and enduring relationships.

Secondary Groups

Larger, more impersonal groups in society that individuals join for specific purposes, often characterized by limited emotional ties and duration, such as professional organizations or corporations.

Intimate

Relating to a very close personal relationship characterized by deep emotional or physical bonding, often used to describe friendships, romantic relationships, or family ties.