Homework answers / question archive / A firm's year-end retained earnings balances are $670,000 and $560,000, for 2014 and 2015 respectively

A firm's year-end retained earnings balances are $670,000 and $560,000, for 2014 and 2015 respectively

Finance

Share With

A firm's year-end retained earnings balances are $670,000 and $560,000, for 2014 and 2015 respectively. The firm paid $10,000 in dividends in 2015. The firm's net profit after taxes in 2015 was ______.
Select one:
a. $110,000
b. $100,000
c. -$110,000
d. -$100,000

======================

Gross profit is ______.
Select one:
a. sales revenue minus operating expenses
b. sales revenue minus cost of goods sold
c. operating profits minus cost of goods sold
d. operating profits minus depreciation