On jan. 1, 2019, Bacardi Limited had retained earnings of $8,000,000. During 2019, the corporation reported net income of $1,500,000, declared dividends of $500,000, and issued common stock for $1,000,000. What were retained earnings on dec 31, 2019? A. $7,500,000 B. $9,000,000 C. $9,500,000 D. $7,000,000

On jan. 1, 2019, Bacardi Limited had retained earnings of $8,000,000. During 2019, the corporation reported net income of $1,500,000, declared dividends of $500,000, and issued common stock for $1,000,000. What were retained earnings on dec 31, 2019? A. $7,500,000 B. $9,000,000 C. $9,500,000 D. $7,000,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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