Beard Marine the Company Reported the Following Information for the Year

question 202

Multiple Choice

Beard Marine The company reported the following information for the year ended December 31,2013:
$\begin{array}{llcc} \text {Net income } & \$ 100,000 \\ \text { Dividends } & 6,000 \\\text { Retained earnings at December 31,2013 } & \$ 120,000 \\\end{array}$
-Refer to Beard Marine.What was the balance of Retained Earnings at January 1,2013?

• A)$ 21,000
• B)$ 26,000
• C)$106,000
• D)$214,000

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