The ending Retained Earnings balance of Lambert Inc. increased by $1.5 million from the beginning of the year. The company's net income earned during the year is $3.5 million. What is the amount of dividends Lambert Inc. declared and paid?
A) $1.5 million.
B) $3.5 million.
C) $2.0 million.
D) $5.0 million.
Correct Answer:
Verified
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