During 2016,Lift Ltd earned revenues of $500 and incurred expenses of $650.Retained profits at 1 January 2016 were $400,and at 31 December 2016 they were $225.
-What was the dividend declared by Lift Ltd during the year?

Question

Quizplus · Accepted Answer

Retained profits decreased by $175 during the year (from $400 to $225). This means that the company paid out $175 in dividends.

During 2016,Lift Ltd Earned Revenues of $500 and Incurred Expenses