Which of the following statements about this statement of retained earnings is not correct?
A) Retained earnings of $350,500 will appear on the balance sheet as of December 31, Year 3.
B) The net income in the above statement came from the income statement for the year ending December 31, Year 3.
C) Dividends are shown in parentheses because they are distributions of earnings to the stockholders.
D) The ending retained earnings amount represents the amount of cash at the end of Year 3.
Correct Answer:
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