Lakeview Industries Had Sales of $40 Million and Net Income

question 44

Multiple Choice

Lakeview Industries had sales of $40 million and net income of $2 million in 2012.Lakeview paid a dividend of $1.5 million.Assuming that their beginning balance for retained earnings was $4 million,calculate their ending balance for retained earnings.

• A)$4.5 million
• B)$2.5 million
• C)$3 million
• D)$4 million

---

Definitions:

Chromosome 21

The smallest human chromosome, abnormalities in which can lead to Down syndrome.

Amino Acid Sequence

The order of amino acids in a protein, determining its structure and function.

Gene Duplication

The process by which a segment of DNA containing a gene is duplicated, potentially leading to genetic innovation and evolution.

Chromosome Deletion

A mutation involving the loss of a section of a chromosome, which can lead to developmental issues or diseases.