$11$

$!$

Required information

On $\frac{1}{1}\frac{?}{23},$ Superior Corporation's total asset balance was $$800,000,$ its total liabilities were $$300,000,$ and its retained earnings were $$0.$ During the year $2023,$ its net income was $$300,000,$ it paid $$150,000$ in dividends, and repurchased $$100,000$ of its own stock from shareholders. Total liabilities remained unchanged for all of $2023,$ and the only changes to equity accounts resulted from the above.

What was Superior's total retained earnings balance on $12/31/2023?$

Multiple Choice

$$ $$0$

$$ $$50,000$

$$ $$150,000$

$$ $$300,000$