On January 1, 2019, Les Holt invested $900,000 to start Holt Corporation. During the year, Holt Corporation had total revenues of $180,000 and total expenses of $48,000. Cash dividends paid totaled $36,000.
What was the balance in Holt Corporation's retained earnings account at the end of the year?
A) $ 42,000
B) $942,000
C) $ 96,000
D) $906,000
Correct Answer:
Verified
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