Use the table for the question(s)below.
AOS Industries Statement of Cash Flows for 2008
-Consider the above statement of cash flows.If all amounts shown above are in millions of dollars,what were AOS Industries' retained earnings for 2008?
A)$1.3 million
B)$1.7 million
C)$2.1 million
D)$5.4 million

Question

Use the table for the question(s)below.
AOS Industries Statement of Cash Flows for 2008 
-Consider the above statement of cash flows.If all amounts shown above are in millions of dollars,what were AOS Industries' retained earnings for 2008?
A)$1.3 million 
B)$1.7 million 
C)$2.1 million 
D)$5.4 million

Quizplus · Accepted Answer

Retained earnings are calculated by adding net income to the beginning retained earnings and subtracting any dividends paid. The statement of cash flows would provide information on net income and dividends, allowing for the calculation of retained earnings.

Use the Table for the Question(s)below