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The Good Word Store Reported the Following Figures: Retained Earnings,January

Question 119

Multiple Choice

The Good Word Store reported the following figures: Retained Earnings,January 31,2014.........................$20,000,000
Retained Earnings,January 31,2015.........................$15,000,000
Total Stockholders' Equity,January 31,2014...........$29,000,000
Total Stockholders' Equity,January 31,2015...........$25,000,000
The company's fiscal year ends on January 31 each year.Dividends declared for the fiscal year ending January 31,2015 are $1 million.What is the net income or net loss for the fiscal year ending January 31,2015?


A) $1 million net loss
B) $4 million net loss
C) $5 million net loss
D) $6 million net loss

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