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Miter Corporation Had a Credit Balance of $5,450,000 in Its

Question 82

Multiple Choice

Miter Corporation had a credit balance of $5,450,000 in its retained earnings account as of January 1, 2014. During the year Miter paid $250,000 in dividends, reported net earnings of $560,000 and comprehensive income of $750,000. The December 31 balance of retained earnings is:


A) $6,450,000
B) $5,760,000
C) $5,950,000
D) $6,200,000

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