A company had a beginning balance in retained earnings of $110,000. It had net income of $55.000 and declared and paid cash dividends of $60,000 in the current period. The ending balance in retained earnings equals: Multiple Choice O 8.25,000 O $495.000 O S405.000 O $470.000 A company has a beginning balance in retained carings of $110,000. It had net income of $55.000 and declared and paid cash dividends of $60.000 in the current period. The ending balance in retained camnings equals: Multiple Choice $525.000 O $1.000 5405.000 5470.000