The accountant for TI Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year$161,000?Cash dividends declared for the year 50,000?Net income for the year 97,000?What is the ending balance for retained earnings?
A. $111,000.
B. $258,000.
C. $208,000.
D. $279,000.
E. $14,000.
Answer: C
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Indicate whether the statement is true or false.