Paquin Company has the following information available for the most current year: Paid-in capital, January 1, 2014 $475,000 Retained earnings, January 1, 2014 $50,000 Total revenues in 2014 $890,000 Total expenses in 2014 $550,000 $70,000 Dividend declared in 2014 What was the balance in Retained Earnings at December 31, 2014? A. $390,000 B. $320,000 C. $405,000 D. $270,000

Paquin Company has the following information available for the most current year: Paid-in capital, January 1, 2014 $475,000 Retained earnings, January 1, 2014 $50,000 Total revenues in 2014 $890,000 Total expenses in 2014 $550,000 $70,000 Dividend declared in 2014 What was the balance in Retained Earnings at December 31, 2014? A. $390,000 B. $320,000 C. $405,000 D. $270,000

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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