How is a firm's retained earnings at the end of the year calculated??
A. ?Retained earnings = Beginning balance of retained earnings minus net income in the current year plus net loss in the previous year
B. ?Retained earnings = Beginning balance of retained earnings plus net income in the current year plus dividends paid in the current year
C. ?Retained earnings = Beginning balance of retained earnings plus net income in the current year minus dividends paid in the current year
D. ?Retained earnings = Beginning balance of retained earnings minus net loss in the previous year minus dividends paid in the current year
E. ?Retained earnings = Beginning balance of retained earnings minus net income in the current year plus dividends paid in the current year
Answer: C
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