A firm has a net income (after-tax profit) of $500,000 and pays divide
A firm has a net income (after-tax profit) of $500,000 and pays dividends of $150,000. Which of the following statements is TRUE?
A) Cash decreased by $150,000
B) Retained earnings increased by $350,000
C) Long-term debt increased by $350,000
D) All of the statements are true.
ANSWER
B
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