Clowns-R-Us Reported the Following in the Statement of Comprehensive Income

question 53

Multiple Choice

Clowns-R-Us reported the following in the statement of comprehensive income for the year ended December 31: During the year,the company paid $105,000 in dividends and purchased treasury stock with a par value of $20,000 at a cost of $95,000.If the balance of Retained Earnings at the beginning of the year was $4,400,000,what is the balance of Retained Earnings at the end of the year?

• A)$5,145,000
• B)$5,050,000
• C)$4,805,000
• D)$4,710,000

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Definitions:

Identical Twins

Twins who developed from a single zygote that then split and formed two embryos, sharing 100% of their DNA.

Biological Parents

The parents who have conceived and given birth to, or biologically fathered a child, as opposed to adoptive or step-parents.

Fraternal Twins

Siblings born at the same time who are genetically as similar as regular siblings because they come from two different eggs fertilized by two different sperm.

Polygenetic

Relating to the contribution of multiple genes in the determination of a particular trait or characteristic, often resulting in a wide spectrum of possible outcomes.