Answer:
$54 million
Explanation:
The computation of the balance of retained earnings at the end of the year is shown below:
The ending balance of retained earning = Beginning balance of retained earnings + net income earned - cash dividend paid
= $20 million + $40 million - $6 million
= $54 million
The net income is
= Sales revenue - expenses incurred
= $70 million - $30 million
= $40 million
Answer: unconstitutional under the First Amendment.
Explanation:
From the information provided, in Diners’ suit against the city, the court would likely hold the ban on printed materials to be unconstitutional under the First Amendment.
Under the First Amendment, any law that limits or ban freedom of expression, religion, peaceful assembly, petitioning of the government is prohibited. Therefore, the action of the city is unconstitutional.