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Judd Enterprises

These are the simplified financial statements for Judd Enterprises.

Income statement Current Projected
Sales na 1,000
Costs na 700
Profit before tax na 300
Taxes na 90
Net income na 210
Dividends na 63
Balance sheets Current Projected Current Projected
Current assets 100 115 Current liabilities 70 81
Net fixed assets 900 1,080 Long-term debt 400
Common stock 300
Retained earnings 230
Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan?

Select the correct answer.

A. $415 B. $440 C. $377 D. $339 E. $396

Respuesta :

Answer:

$377 Option C

Step-by-step explanation:

We have to calculate of Judd's projected retained earnings under this plan.

Retained earning = Old retained earnings + New net income - current dividends.

                             = $230 + $210 - $63

                             = $377

Judd's projected retained earnings would be $377 under this plan.

Option C. $377 is the answer.

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