Garrison Industries Garrison Industries Began Operations on January 2,2014,with an Investment

question 47

Multiple Choice

Garrison Industries Garrison Industries began operations on January 2,2014,with an investment of $50,000 by each of its two stockholders.Net income for its first year of business was $240,000.Garrison Industries paid a total of $100,000 in dividends to its stockholders during the year.
Read the information about Garrison Industries.What is the company's retained earnings balance at December 31,2014?

• A)$140,000
• B)$190,000
• C)$240,000
• D)$340,000

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Definitions:

Differentiation

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Protein Deficiency

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Cognitively Advanced

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Growth Rate

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