Las Palmas Company reported the following items on its financial statements for the year ending December 31,2014: 
How much will be reported as retained earnings on Las Palmas' balance sheet at December 31,2014,if this is the first year of operations?
A) $ 45,000
B) $ 65,000
C) $ 85,000
D) Not enough information is provided.
Correct Answer:
Verified
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