Multiple Choice
Grason Corporation is preparing a budgeted balance sheet for 2015.The retained earnings balance at December 31,2014 was $533,500.The 2015 budgeted income statement shows expected net income of $112,000.The company expects to declare dividends during 2015 amounting to $40,000.The expected balance in retained earnings on the 2015 budgeted balance sheet is:
A) $533,500.
B) $605,500.
C) $645,500.
D) $493,500.
E) $685,500.
Correct Answer:
Verified
Correct Answer:
Verified
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