For the Past Five Years,Mookie Consulting Services Reported the Following

question 101

Multiple Choice

For the past five years,Mookie Consulting Services reported the following annual net income and dividend amounts:
$$\begin{array} { c c c } \text { Year } & \text { Net Income } & \text { Dividends } \\1 & \$ 22,000 & \$ 2,000 \\2 & 17,000 & 2,000 \\3 & 9,000 & 1,000 \\4 & 14,000 & 3,000 \\5 & 25,000 & 4,000\end{array}$$
If Mookie had Retained Earnings of $88,000 at the end of year 5,what was the company's Retained Earnings at the beginning of Year 1?

• A)$13,000.
• B)$25,000.
• C)$7,000.
• D)$1,000.

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Definitions:

Tons of Rice

A unit of measure indicating the quantity of rice, often used in trading and economic analysis related to agricultural commodities.

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Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to allocate resources in one way rather than another.

Tons of Rice

Tons of rice refer to a measurement of rice quantity, often used in the context of agricultural production and trade statistics.