Marcos Inc.had net income for 2014 of $40,000.It declared and paid a $3,500 cash dividend in 2014.If the company's retained earnings for the end of the year was $38,200, what was the company's retained earnings balance at the beginning of 2014?
A)$81,700
B)$74,700
C)$5,300
D)$1,700

Question

Quizplus · Accepted Answer

The Answer of Marcos Inc.had net income for 2014 of $40,000.It declared and paid a $3,500 cash dividend in 2014.If the company's retained earnings for the end of the year was $38,200, what was the company's retained earnings balance at the beginning of 2014?
A)$81,700
B)$74,700
C)$5,300
D)$1,700