A firm had year end 2004 and 2005 retained earnings balances of $670,000 and $560,000, respectively. The firm paid $10,000 in dividends in 2005. The firm's net profit after taxes in 2002 was
A) -$100,000.
B) -$110,000.
C) $100,000.
D) $110,000.

Question

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The Answer of A firm had year end 2004 and 2005 retained earnings balances of $670,000 and $560,000, respectively. The firm paid $10,000 in dividends in 2005. The firm's net profit after taxes in 2002 was
A) -$100,000.
B) -$110,000.
C) $100,000.
D) $110,000.

A Firm Had Year End 2004 and 2005 Retained Earnings