2.Changes in accounting estimates are: A Reported as prior period adjustments B. Accounted for with a cumulative "catch-up" adjustment C. Extraordinary items D. Considered accounting errors E. Accounted for in current and future periods 23 A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings equals: A. S(12,625) B. $43,375 C. $108,625 D. $11,375 E. S(11,375) 24 A company has 2,000 shares of $1 par value common stock and 200 shares of 5%, $110 par, non-cumulative preferred stock outstanding. The balance in Retained Earnings at the beginning of the year was $500,000. Net income for the current year was $300,000. If the company paid a dividend of $2 per share on its common stock, what is the balance in Retained Earnings at the end of the year? A $494,900 B. $194,900 C. $805,100 D. $800,000 E. $794,900 25. The price-earnings ratio is calculated by dividing: A. Earnings per share by market value per share B. Market value per share by eanings per share C. Market value per share by dividends per share D. Dividends per share by earnings per share E. Dividends per share by market value per share