When preparing the retained earnings statement, ________ is(are) subtracted in order to derive at the ending balance of retained earnings

Fastenal is a distributor of industrial tools and supplies. It operates more than 2,000 branch locations across the country. It focuses primarily on the business-to-business market and has identified several distinct markets to target: 1) smokestack industrials, 2) modern warehouse, 3) mom-and-pop services, and 4) white-collar industrial. These descriptors help Fastenal's account managers to create a unique message and product or service appeal to the distinct market segments. According to the text, at which step of the market segmentation process are segment descriptors determined?

Managers focus on measuring the output in service and non-for-profit organizations, which is different from the tangible units sold by manufacturing and merchandising companies

Indicate whether the statement is true or false