Mobile Power Corp.reported the following information for the year ended December 31,2017.
$\begin{array}{lr}
\text { Revenue } & \$ 40,000 \
\text { Expenses } & 23,000 \
\text { Dividends } & 10,000 \
\text { Retained earnings at December 31,2017 } & 175,000
\end{array}$
What was the retained earnings balance for Mobile Power at December 31,2016?
A)$165,000
B)$168,000
C)$182,000
D)$192,000

Question

Mobile Power Corp.reported the following information for the year ended December 31,2017.  
$\begin{array}{lr}
\text { Revenue } & \$ 40,000 \
\text { Expenses } & 23,000 \
\text { Dividends } & 10,000 \
\text { Retained earnings at December 31,2017 } & 175,000
\end{array}$ 
What was the retained earnings balance for Mobile Power at December 31,2016?
A)$165,000
B)$168,000
C)$182,000
D)$192,000

Quizplus · Accepted Answer

The Answer of Mobile Power Corp.reported the following information for the year ended December 31,2017.  
$\begin{array}{lr}
\text { Revenue } & \$ 40,000 \
\text { Expenses } & 23,000 \
\text { Dividends } & 10,000 \
\text { Retained earnings at December 31,2017 } & 175,000
\end{array}$ 
What was the retained earnings balance for Mobile Power at December 31,2016?
A)$165,000
B)$168,000
C)$182,000
D)$192,000

Mobile Power Corp What Was the Retained Earnings Balance for Mobile Power at December