Last year Builtrite had retained earnings of $120,000. This year, Builtrite had true net profits after...
Last year Builtrite had retained earnings of $120,000. This year, Builtrite had true net profits after taxes of $75,000 which includes common stock dividends received of $20,000. Builtrite also paid a preferred dividend of $15,000. What is Builtrite’s new level of retained earnings?
options are
$190,000
$200,000
$210,000
$180,000
Homework Answers
D. $180,000
Builtrite’s new level of retained earnings = $120,000 + $75,000 - $15,000
Builtrite’s new level of retained earnings = $180,000
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Last year Builtrite had retained earnings of $120,000. This
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