In 2020, Bouchard Enterprises reported net income of $75,000 and declared a dividend of $40,000. The dividend is to be paid on February 1, 2021 to shareholders of record on January 15, 2021. The balance in the retained earnings account on January 1, 2020 was $140,000. At Bouchard's year end on December 31, 2020 the company reported the following ending balance for retained earnings on the statement of changes in shareholders' equity:
A) $35,000.
B) $115,000.
C) $175,000.
D) $215,000.

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The Answer of In 2020, Bouchard Enterprises reported net income of $75,000 and declared a dividend of $40,000. The dividend is to be paid on February 1, 2021 to shareholders of record on January 15, 2021. The balance in the retained earnings account on January 1, 2020 was $140,000. At Bouchard's year end on December 31, 2020 the company reported the following ending balance for retained earnings on the statement of changes in shareholders' equity:
A) $35,000.
B) $115,000.
C) $175,000.
D) $215,000.

In 2020, Bouchard Enterprises Reported Net Income of $75,000 and Declared