In the statement of stockholders' equity, Retained Earnings had a beginning balance of $60,000. During the period, the company reports a net loss of $10,000 and net cash outflows of $15,000. The ending balance in the Retained Earnings account is:
A) $60,000.
B) $35,000.
C) $50,000.
D) $45,000.
Answer: C
In the statement of stockholders' equity, Retained Earnings had a beginning balance of $25,000. During the period, the company reports a net income of $10,000 and a dividend of $4,000. The ending balance in the Retained Earnings account is:
A) $10,000.
B) $35,000.
C) $39,000.
D) $31,000.
Answer: D
The statement of stockholders' equity includes:
A) Net income from the income statement.
B) The amount of stock issued in the current period.
C) Dividends declared to stockholders in the current period.
D) All of the other answers are correct.
Answer: D
