Biglo Chemical Company Reported the Following in the Statement of Comprehensive

question 115

Multiple Choice

Biglo Chemical Company reported the following in the statement of comprehensive income for the year ended December 31: $$\begin{array} { l r } \text { Income from continuing operations before tax } & \$ 600,000 \\\text { Income tax expense } & ( 140,000 ) \\\text { Net income } & 460,000 \\\text { Other comprehensive income } & 110,000 \\\text { Comprehensive income } & 240,000\end{array}$$ During the year, the company paid $60,000 in dividends and purchased treasury stock with a par value of $10,000 at a cost of $70,000. If the balance of Retained Earnings at the beginning of the year was $380,000, what is the balance of Retained Earnings at the end of the year?

• A) $560,000
• B) $780,000
• C) $840,000
• D) $620,000

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