At January 1, 2015, Alligator Industries reported retained earnings of $150,000. During 2015, Alligator had a net loss of $30,000 and paid dividends of $15,000. At December 31, 2015, the amount of retained earnings is
A)$105,000.
B)$120,000.
C)$135,000.
D)$165,000.

Question

Quizplus · Accepted Answer

Retained earnings at December 31, 2015 = $150,000 - $30,000 - $15,000 = $105,000

At January 1, 2015, Alligator Industries Reported Retained Earnings of $150,000