At January 1, 2014, Troyer Industries reported Retained Earnings of $280,000. During 2014, Troyer had a net loss of $60,000 and paid dividends to the stockholders of $40,000. At December 31, 2014, the balance in Retained Earnings is

Question

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The retained earnings at the end of the year is calculated as the beginning retained earnings minus the net loss and dividends paid: $280,000 - $60,000 - $40,000 = $180,000.

At January 1, 2014, Troyer Industries Reported Retained Earnings of $280,000