Multiple Choice
Rock Springs Company earns a net income of $574,000 and pays dividends of $52,000 during the period. Rock Springs has ending retained earnings of $978,000.
The balance in Rock Springs' beginning retained earnings must have been:
A) $688,000
B) $522,000
C) $626,000
D) $456,000
Correct Answer:
Verified
Correct Answer:
Verified
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