Jamaican Ice Cream Corp

question 117

Multiple Choice

Jamaican Ice Cream Corp. started the year with a balance of retained earnings of $100 million. The company reported net income for the year of $45 million, paid dividends of $2 million to the preferred stockholders and $15 million to common stockholders. What is Jamaican Ice Cream's end of year balance in retained earnings?

• A) $38 million
• B) $55 million
• C) $128 million
• D) $162 million

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Definitions:

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Elements or conditions that bring about an effect or change, directly influencing outcomes in a specific context.

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The ability of an individual to do a job properly, encompassing knowledge, skills, and behaviors.

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The use of physical or mental energy to achieve something; often involves hard work or striving towards a goal.

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The level of challenge and effort required to successfully complete a task or assignment.