The Following Information Relates to the Smith Company What Is the Adjusted January 1, 2010, Balance in Retained

Multiple Choice

The following information relates to the Smith Company: $\begin{array}{ll}2010 \text { cash dividend declared } & \$ 400 \\\text { Restated (adjusted) retained earnings, January 1, 2010 } & ? \\2010 \text { net income } & 480 \\\text { Error in 2009-Underst at ement of ending inventory, } \\\text { error found in 2010 } & 150\\\text { Restated (adiusted) retained earnings, December 31, } 2010& 1,550\end{array}$ What is the adjusted January 1, 2010, balance in retained earnings?

A) $1, 170
B) $1, 320
C) $1, 470
D) $1, 630