Lori Corporation Reported the Following Information for the Year Ended

question 169

Multiple Choice

Lori Corporation reported the following information for the year ended December 31,2017:
$\begin{array}{lr}\text { Net income } & \$ 10,000 \\\text { Dividends } & 6,000 \\\text { Retained earnings at December } 31,2017 & 25,000\end{array}$ What was the balance of Lori' retained earnings at January 1,2017?

• A)$21,000
• B)$29,000
• C)$31,000
• D)$35,000

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Definitions:

Immediate Action

A prompt response or measure taken to address a situation or solve a problem without delay.

Appreciative Inquiry

A method of organizational change focused on identifying what works well, analyzing why it works, and then doing more of it.

Marketing Technique

Strategies or methods applied to promote and sell products or services to target consumers.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.