At the Beginning of the Current Year, Fred Company Had $\quad \$ 43,000$

question 99

Multiple Choice

At the beginning of the current year, Fred Company had the following balances in their stockholders' equity accounts as of December 31, 20X5: Paid-in capital $\quad \$ 43,000$
Retained earnings 27,000
During the year ended December 31, 20X6, Fred Company generated $35,400 in net income, and declared and paid $10,000 in dividends.The ending balance in the Retained Earnings account at December 31, 20X6 is_____.

• A)$23,400
• B)$27,000
• C)$52,400
• D)$66,400