Mary Company Had the Following Data Available What Is the Balance in Retained Earnings on December 31,2015

question 28

Multiple Choice

Mary Company had the following data available:
$\begin{array} { l } \text {Paid-in capital, December 31, 2014 }&\$43,000 \\ \text { Retained earnings, December 31,2014}&\$27,000 \\ \text { Net income for the year ended December 31,2015 }&\$ 35,400\\ \text { Dividends declared in 2015}&\$ 20,000\\\end{array}$

What is the balance in Retained Earnings on December 31,2015?

• A) $23,400
• B) $42,400
• C) $52,400
• D) $66,400

Understand the various sales compensation plans and their impact on salesforce behavior.

Identify and describe different measures used in quantitative assessments of sales performance.

Recognize the use of behavioral measures in evaluating salesperson performance.

Understand the importance of customer satisfaction and its inclusion as a performance metric.

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Definitions:

Zero Defects

A management philosophy aiming at reducing and ideally eliminating defects and errors in manufacturing and service processes.

Quality

The degree to which a product or service meets or exceeds customer expectations.

Lean Environment

A management philosophy focusing on reducing waste and improving efficiency in the production process, often resulting in cost savings and higher quality products.

Operations

Activities carried out by a company to produce, buy, sell goods or services in the most efficient and effective manner.