Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand t

Question

3 years ago

14

Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand t

heir production line. The profit that they keep to reinvest in the business is recorded as A : a long-term investment. B : common stock. C : property, plant, and equipment. D : retained earnings.

Business

1 answer:

CaHeK987 [17] · Answer 1 · 2022-07-29T10:59:24+03:00

CaHeK987 [17]3 years ago

4 0

Answer:

The profit that they keep to reinvest in the business is recorded as D : retained earnings.

Explanation:

Retained earnings (RE) is the amount of net income left over for the business after it has paid out dividends to its shareholders.