At the End of the Year, Retained Earnings Totaled $1,700

question 28

Multiple Choice

At the end of the year, retained earnings totaled $1,700. During the year, net income was $250, and dividends of $120 were declared and paid. Retained earnings at the beginning of the year totaled:

• A) $2,070
• B) $1,330
• C) $1,230
• D) $1,570