10. The following information relates to the Smith Company for 2021 : Cashdividenddeclaredfor2021Retainedearnings,January1,2021Netincomefor2021Retainedearnings,December31,2021$1,6004,6801,920? What was the December 31,2021 , balance of retained earnings? a. $4,360 b. $4,680 c. $5,000 d. $8,200 11. The method of valuation under the US GAAP is 1. accounts receivable at net realizable value. 2. short-term marketable securities at fair value. 3. inventories at current cost if current cost is higher than historical cost. a. 1 and 2 b. 2 and 3 c. 1 and 3 d. 1,2 , and 3