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Alexxx [7]
3 years ago
8

Last year Builtrite had retained earnings of $140,000. This year, Builtrite had true net profits after taxes of $65,000 which in

cludes common stock dividends received of $10,000, and also paid a preferred dividend of $35,000. What is Builtrite’s new level of retained earnings? A) $180,000 B) $190,000 C) $200,000 D) $170,000
Business
1 answer:
Butoxors [25]3 years ago
4 0

Answer: $160,000

 

Explanation: Retained earnings can be defined as the amount pf earnings left with the company after taking into consideration all tyoes of dividends and taxes.

formula  :-

Retained earnings = previous retained earnings + net income - dividends to equity holders - dividends to preference holders

thus,

Retained earnings = $140,000 + $65,000 - $10,000 - $35,000

                                 = $160,000

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