Been There Used Furniture Began Operation on January 1, 2019

question 190

Multiple Choice

Been There Used Furniture began operation on January 1, 2019, with an initial investment of $100,000 from each of its five stockholders. During the year, the company had net income of $200,000 and paid dividends of $50,000.
-Refer to Been There Used Furniture. Calculate the retained earnings balance at December 31, 2019.

• A)$150,000
• B)$200,000
• C)$500,000
• D)$650,000

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