CN is North America's fifth largest railroad. CN is forecasting its financial statements for Year 3. Selected financial information for Year 2 is provided in the table
What is Retained Earnings for Year 3?
Selected Financial Information
CN Railway Company ($000'000s)
Year 2 Ratios
(to sales) Forecast
Year 3
Revenue $6,110 $6,721
COGS 2,550 0.417349
Dep. Exp. 499 555
Other Expenses 1,945 0.318331
EBIT 1,116
Int. Exp. 277 259
EBT 839
Provision for Income Taxes 268 0.31943*
Net Income $571
Retained Earnings $2,762
Owner's Equity $6,627
*The tax rate is a percentage of Earnings Before Tax.
A) $2,762
B) $3,128
C) $3,293
D) $3,417
E) $3,630
D
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