The Net Income of Harriet,Inc

question 108

Multiple Choice

The net income of Harriet,Inc.for the year is $35,000.The dividends declared during the year were $43,000.Which of the following statements is true?

• A)Retained Earnings account decreases by $35,000.
• B)Retained Earnings account decreases by $8,000.
• C)Retained Earnings account increases by $43,000.
• D)Retained Earnings will remain the same.