Question

The Retained Earnings account has a beginning balance of $321,975 and an ending balance of $356,413. Net income is $40,251. Which of the following statements is correct?

A) $5,813 would be subtracted when determining cash flows from financing activities.

B) $40,251 would be added when determining cash flows from financing activities.

C) $34,438 would be added when determining cash flows from financing activities.

D) $321,975 would be added when determining cash flows from operating activities.

Answer

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