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A company started the year with the following: Assets $106,000; Liabilities $36,000; Common Stock $66,000; Retained Earnings $4,000. During the of the year. In addition,

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A company started the year with the following: Assets $106,000; Liabilities $36,000; Common Stock $66,000; Retained Earnings $4,000. During the of the year. In addition, the company paid dividends of $1,600 to owners. Assume no other activities occurred during the year. The amount of the company's retained earnings at the end of the year is: Multiple Choice $6,300. $4,700. $1,600. $9,600

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