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9. On January 1, 20x6, Story Company had $60,000 of Retained Earnings. During 20x6 Madison earned net income of $100,000 and declared and paid dividends

9. On January 1, 20x6, Story Company had $60,000 of Retained Earnings. During 20x6 Madison earned net income of $100,000 and declared and paid dividends of $15,000. In addition, the company received cash of $25,000 as an additional investment by its owners. Therefore, the ending balance in Retained Earnings at December 31, 20x6 is: @ $90,000 b. $110,000 c. $130,000 d. $145,000

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