Sooner Company Had a Net Income of $8,000,$5,000,$12,000,and $10,000 Over

question 136

Multiple Choice

Sooner Company had a net income of $8,000,$5,000,$12,000,and $10,000 over the first four years of the company's existence.If the average annual amount of dividends paid over the last four years is $3,000,what is the ending retained earnings balance?

• A)$47,000.
• B)$35,000.
• C)$23,000.

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Definitions:

Multiplier Band

The multiplier band is a component on a resistor that indicates the multiplication factor to be applied to the combined value of the first bands to determine the resistor's resistance value.

Silver

A chemical element with the symbol Ag and atomic number 47, known for its conductivity, malleability, and luster.

Color Code

A system where colors are used to represent numbers.

Wire-Wound

A type of resistor or inductor where wire is wound around a core to create a specific electrical resistance or inductance value, often used for precision components.