Net income of MNC Co. for the year ending 31 December 2022 is 5 500...
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Accounting
Net income of MNC Co. for the year ending 31 December 2022 is 5 500 000 TL. Beginning Retained Earnings on January 1, 2022 was 2 500 000 TL,
After closing of all temporary accounts, Ending Retained earnings is 5 500 000. What happened at the end of the year?
A.Dividends of 3 000 000 TL has been distributed, 2 500 000 TL retained,
B.No dividends have been distributed, annual income has been retained.
C.The company paid 3 000 000 TL income taxes.
D.Dividends of 2 500 000 TL were distributed
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