Maddux, Inc

question 77

Multiple Choice

Maddux, Inc., has completed its fiscal year and reported the following information. The company had current assets of $153,413, net fixed assets of $ 412,331, and other assets of $7,822. The firm also has current liabilities worth $65,314, long-term debt of $178,334, and common stock of $162,000. How much retained earnings does the firm have?

• A) $ 405,648
• B) $243,648
• C) $167,918
• D) $573,566

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Definitions:

Windfall Profit Tax

A windfall profit tax is a higher tax rate applied to unexpected or unusually large profits generated by companies, often imposed during periods of economic boom or due to geopolitical events affecting commodity prices.

Dividend

Dividend is a portion of a company's earnings that is paid to shareholders, usually on a regular basis.

Cooperatives

An organization owned and operated by a group of individuals for their mutual benefit.

Market Value

The present cost at which a service or asset may be purchased or sold in the marketplace.