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?
A) $50 million
B) $5 million
C) $45 million
D) $90 million
E) $95 million

Question

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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?
A) $50 million
B) $5 million
C) $45 million
D) $90 million
E) $95 million

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