A firm's year-end retained earnings balances are $330,000 and $250,000 for 2014 and 2015 respectively. The firm paid $12,000 in dividends in 2015. The firm's earnings (loss) after taxes in 2015 were .

The correct answer is $68,000.

Explanation:

According to the scenario, the given data are as follows:

Retained balance for 2015 = $250,000

Retained balance for 2014 = $330,000

Dividends for 2015 = $12,000

So, we can calculate the firm's earnings (loss) after taxes in 2015 by using following formula:

Net earning after taxes = dividend payment + (retained balance of current year - retained balance of previous year)

= $12,000 + ( $250,000 - $330,000)

= $12,000 + ( - $80,000)

= $12,000 - $80,000

= -$68,000 ( - shows the loss)

Hence the firm's earnings (loss) after taxes in 2015 is $68,000.

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