On January 1, 2020, Balises Corporation's Retained Earnings Account Has

Multiple Choice

On January 1, 2020, Balises Corporation's Retained Earnings account has a balance of $300,000. During 2020, cash dividends of $20,000 were declared and stock dividends with a market value of
$40,000 were declared. Net income for 2020 amounted to $90,000. On June 30, 2020, Balises Corporation issued 5,000 shares of common shares at $10 per share. What is the balance in Retained Earnings appearing on the statement of shareholders' equity on December 31, 2020?

A) $440,000
B) $420,000
C) $380,000
D) $330,000