The Toy Store Has Beginning Retained Earnings of $28,975

question 78

Multiple Choice

The Toy Store has beginning retained earnings of $28,975.For the year,the company earned net income of $4,680 and paid dividends of $1,600.The company also issued $3,000 worth of new stock.What is the value of the retained earnings account at the end of the year?

• A)$20,445
• B)$22,695
• C)$27,375
• D)$32,055
• E)$35,255

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