Wendell Company Provided the Following Pertaining to Its Recent Year

question 93

Multiple Choice

Wendell Company provided the following pertaining to its recent year of operation:
Common stock with a $10,000 par value was sold for $50,000 cash.
Cash dividends totaling $20,000 were declared,of which $15,000 were paid.
Net income was $70,000.
A 5% stock dividend resulted in a common stock distribution,which had a $5,000 par value and a $23,000 market value.
Treasury stock costing $9,000 was sold for $7,000.
How much did Wendell's retained earnings increase during the recent year of operation?

• A)$32,000
• B)$45,000
• C)$29,000
• D)$27,000

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Definitions:

Culturally Sensitive

Having an awareness of, and respect for, the differences in cultures and beliefs, especially in professional practices.

Significance

The quality of being worthy of attention; importance, meaning, or relevance of something.

Environmental Factors

Elements within the surroundings that can influence health outcomes, including pollution, climate, and urbanization.

Subculture

A cultural group within a larger culture, often with beliefs or interests distinct from those of the larger culture.