Multiple Choice
Marcos Inc.had net income for 2016 of $40,000.It declared and paid a $3,500 cash dividend in 2016.If the company's retained earnings for the end of the year were $38,200, what was the company's retained earnings balance at the beginning of 2016?
A) $81,700
B) $74,700
C) $5,300
D) $1,700
Correct Answer:
Verified
Correct Answer:
Verified
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