Question: Statement of Retained Earnings is prepared after the Income Statement, which of the following supports this statement? Select one: a. None of the choices b.

Statement of Retained Earnings is prepared after the Income Statement, which of the following supports this statement? Select one: a. None of the choices b. Net Income (Net Loss) from the Income Statement must be added (subtracted) to the retained earnings at the end of the period c. Cash dividend decreases the Retained Earnings of the corporation d. Net Income (Net Loss) from the Income Statement must be added (subtracted) to the retained earnings at the beginning of the periodWhat is the presentation of the results from discontinued operations in the income statement? Select one: a. Discontinued operations shall be shown as a line item after gross profit with the taxation being shown as part of income tax expense b. The amount from discontinued operations shall be broken down over each category of revenue and expenses c. Discontinued operations shall be shown as an item on retained earnings d. The entity shall disclose a single amount on the face of the income statement below the income from continued operation

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