January 1, 2020, Assembly System Corporation's Retained Earnings Account Had

Multiple Choice

January 1, 2020, Assembly System Corporation's Retained Earnings account had a balance of$675,000. During 2020, cash dividends of $25,000 and stock dividends with a market value of $55,000 were declared and distributed. Assembly System Corporation had a net loss of $5,000 in
2020. What is the balance in Retained Earnings that would appear on Assembly System
Corporation's statement of shareholders' equity on December 31, 2020?

A) $590,000
B) $595,000
C) $615,000
D) $670,000