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12. On January 1, 2022, Warburg Corporateion had retained earnings of $8,000,000. During 2022, Warburg reported net income of $1,500,000, declared dividends of $500,000, and
12. On January 1, 2022, Warburg Corporateion had retained earnings of $8,000,000. During 2022, Warburg reported net income of $1,500,000, declared dividends of $500,000, and issued common stock for $1,000,000. What were Warburg's retained earnings on December 31, 2022 ? A. 57,000,000. B. 59,500,000. C. 59,000,000. D. $7,500,000
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