The Retained Earnings balance was $22,900 on January 1.Net income for the year was $18,100.If Retained Earnings had a credit balance of $23,800 after closing entries were made for the year,and if additional stock of $5,200 was issued during the year,what was the amount of dividends declared during the year?

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The correct answer is A.The Retained Earnings balance was $22,900 on January 1. Net income for the year was $18,100. If Retained Earnings had a credit balance of $23,800 after closing entries were made for the year, and if additional stock of $5,200 was issued during the year, then the amount of dividends declared during the year was $17,200.This can be calculated using the following formula:Retained Earnings, end - Retained Earnings, beginning + Net income - Dividends = Additional stock issued$23,800 - $22,900 + $18,100 - Dividends = $5,200Dividends = $17,200

The Retained Earnings Balance Was $22,900 on January 1