5.

The H.C. Biddle Company (HCBC) reported retained earnings of $265 million on it 20Y4 balance sheet. HCBC also reported net income of $83 million on its 20Y5 income statement. HCBC paid $21 million in dividends to its common shareholders during 20Y5. What amount of retained earnings did HCBC report on its 20Y5 Balance Sheet?

Select one:

a. $62 million

b. $226 million

c. $327 million

d. $348 million