For the year ended December 31, 2019, Tess Inc. reported the following: Net income $180,000 Preferred dividends declared 30,000 Common dividend declared 16,000 Unrealized holding loss, net of tax 3,000 Retained earnings, beginning balance 240,000 Common stock 120,000 Accumulated Other Comprehensive Income, Beginning Balance 15,000 What would Tess report as the ending balance of Retained Earnings

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?