One of the applications of accrual accounting is adjusting the accounts

An enabling statute delegates legislative power to an administrative agency to settle or adjudicate any disputes it may have with businesses or individuals

Indicate whether the statement is true or false

Polaris Industries is forecasting its financial statements for Year 6. Selected financial information for Year 5 is provided in the table. What is Retained Earnings for Year 6?

Selected Financial Information Polaris Industries Inc. ($000s) Year 5 Ratios (to Sales) Forecast Year 6 Revenue $1,908,459 $1,803,494 COGS 1,454,374 0.762067 SG&A 213,114 0.111668 Dep. Exp. 28,632 30,084 EBIT 212,339 Int. Exp. 4,713 2,117 EBT 207,626 Provision for Income taxes 64,348 31%* Net Income $143,278 Dividends $700 Retained Earnings $369,240 *Tax rate is a proportion of Earnings before Taxes. A) $ 503,447 B) $ 504,147 C) $ 534,137 D) $ 534,837 E) $ 607,556