A company's balance of retained earnings on January 1 was $50 million. During the year, sales revenue was $85 million, while expenses totaled $70 million. The company declared and paid $8 million in cash dividends during the year. What was the balance f retained earnings at the end of the year? OA. $213 million O B. $57 million O c. $73 million OD. $65 million

A company's balance of retained earnings on January 1 was $50 million. During the year, sales revenue was $85 million, while expenses totaled $70 million. The company declared and paid $8 million in cash dividends during the year. What was the balance f retained earnings at the end of the year? OA. $213 million O B. $57 million O c. $73 million OD. $65 million

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 16EA: Montana Incorporated began the year with a retained earnings balance of $50,000. The company paid a...

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