Wheeler corporation had retained earnings of december 31, Ask an Expert

Accounting

Wheeler Corporation had retained earnings of December 31, 2008 of $ 12 million. During 2009, Wheeler's net income was $ 4 million. The retained earnings balance at the end of 2009 was equal to $ 13 million. Therefore, _________

a) Wheeler paid a dividend in 2008 of $ 3 million

b) Wheeler paid a dividend in 2008 of $ 5 million

c) Wheeler sold common stock during 2008 for $ 3 million

d) Wheeler purchased treasury stock in 2008 for $ 3 million

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9440032

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