The Retained Earnings account has a beginning balance of $331,975 and an ending balance of $358,313. Net income is $41,201. Which of the following statements is correct?
A. $331,975 would be added when determining cash flows from operating activities.
B. $26,338 would be added when determining cash flows from financing activities.
C. $14,863 would be subtracted when determining cash flows from financing activities.
D. $41,201 would be added when determining cash flows from financing activities.
Answer: C
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