The financial statement that shows the beginning balance of retained earnings; the changes in equity that resulted from net income (or net loss); dividends; and the ending retained earnings balance,is the:
A)Statement of financial position.
B)Statement of cash flows.
C)Balance sheet.
D)Income statement.
E)Statement of retained earnings.

Question

Quizplus · Accepted Answer

The statement that shows the beginning balance of retained earnings and the changes in equity resulting from net income, dividends, and the ending balance of retained earnings is the Statement of Retained Earnings.

The Financial Statement That Shows the Beginning Balance of Retained