Gem Corp. has $100 million in assets and $50 million in liabilities. Last year, the company earned $10 million in net profit and paid out $5 million in dividends to shareholders. What are the retained earnings for the company?
$50 million
$5 million
$45 million
$90 million
$95 million

Question

Quizplus · Accepted Answer

The Answer of Gem Corp. has $100 million in assets and $50 million in liabilities. Last year, the company earned $10 million in net profit and paid out $5 million in dividends to shareholders. What are the retained earnings for the company?
$50 million
$5 million
$45 million
$90 million
$95 million

Gem Corp Has $100 Million in Assets and $50 Million in in Liabilities