Hot Tamale Company Had $120,000 of Revenues and $113,000 of Expenses

question 159

Multiple Choice

Hot Tamale Company had $120,000 of revenues and $113,000 of expenses. No dividends were paid. These factors will result in which of the following?

• A) Retained earnings will go down.
• B) Retained earnings will go up.
• C) Paid-in capital will go down.
• D) Paid-in capital will go up.

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