The Following Data Are Available for 2001 (In 000's) The Income Tax Rate Is 40 Percent the Balance of

question 23

Multiple Choice

The following data are available for 2001 (in 000's) : $$\begin{array} { | l | c | } \hline \text { Retained earnings, January } 1,2001 & \$ 54 \\\hline \text { Correction of prior years' error (a debit, pre-tax) } & 15 \\\hline \text { Net income (atter tax) } & 25 \\\hline \text { Cumulative foreign exchange translation loss } & 10 \\\hline \text { Dividends declared (cash) } & 11 \\\hline\end{array}$$ The income tax rate is 40 percent The balance of retained earnings at December 31, 2001, was:

• A) $59.
• B) $49.
• C) $79.
• D) $83.

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Definitions:

Product-line Extension

This refers to the process by which a company introduces additional items in the same product category under the same brand, often to target a new segment or increase market share.

E-reader

A portable electronic device designed specifically for reading digital books and periodicals.

Target Market

The specific group of consumers at which a company aims its products and services, identified through characteristics like demographics, behaviors, and needs.

Product Line

A series of related products offered by a single company designed to serve a particular customer need or market.