Mendes Charters Reported the Following Information at December 31,2017: Mendes

question 159

Multiple Choice

Mendes Charters reported the following information at December 31,2017: Mendes' total contributed capital is
$\begin{array}{lr}\text { Preferred stock } \$ 100 \text { par, } 500 \text { shares authorized, and outstanding; }\\\text { cumulative; nonp articipating; call able at par value } & \$ 50,000 \\\text { Common stock } \$ 12 \text { par, } 50,000 \text { shares authorized and outstanding } & 600,000 \\\text { Additional paid-in capital—common } & 25,000 \\\text { Retzined earnings } & 825,000\end{array}$

• A)$650,000.
• B)$675,000.
• C)$1,500,000.
• D)$625,000.

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Definitions:

Retail Shelves

Retail Shelves are the physical spaces in stores where products are displayed for sale, playing a critical role in product visibility and accessibility to consumers.

Manufacturers

Entities engaged in the production of goods by transforming raw materials or components into finished products on a large scale.

Cost-Plus Pricing

A pricing strategy where a fixed percentage is added to the production cost to determine the selling price of a product or service.

Markup Percentage

A markup percentage is the amount added to the cost price of goods to cover overhead and profit.