It Is Dives,Inc

question 57

Multiple Choice

It is Dives,Inc.'s first year of business.Dives' net income for its first year is $200,000.Dives declared and paid dividends of $50,000.The balance in retained earnings at the end of the first year equals:

• A)$200,000.
• B)$50,000.
• C)$150,000.
• D)$250,000.

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