At the end of the year, retained earnings totaled $5,100.During the year, net income was $750, and dividends of $360 were declared and paid.Retained earnings at the beginning of the year totaled:
A)$6,210
B)$3,990
C)$3,690
D)$4,710

Question

Quizplus · Accepted Answer

Retained earnings at the beginning of the year can be calculated by subtracting net income and adding dividends to the end-of-year retained earnings: $5,100 - $750 + $360 = $4,710.

At the End of the Year, Retained Earnings Totaled $5,100