Assuming the company began operations during 2016, the amount of retained earnings as of December 31, 2016 would be:
A. $10,000
B.$8,400
C. $16,400
D. $42,000
Answer:B
Assuming the company began operations during 2016, the amount of retained earnings as of December 31, 2016 would be:
A. $10,000 B.$8,400 C. $16,400 D. $42,000