Multiple Choice
The opening balance of retained earnings for Musicala Inc.was $325,000.During the year, it earned net income of $52,400 and paid dividends of $16,000.What is the closing balance of retained earnings?
A) $256,600
B) $309,000
C) $361,400
D) $377,400
Correct Answer:
Verified
Correct Answer:
Verified
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