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At the beginning of the current year, Wilson Corporation had 100,000 shares of $1 par common stock outstanding and had retained earnings of $3,800,000. During
At the beginning of the current year, Wilson Corporation had 100,000 shares of $1 par common stock outstanding and had retained earnings of $3,800,000. During the year, the company earned $1,575,000 and paid a year-end cash dividend of $4 per share. What was Wilson Corporation's retained earnings at the end of the year?
- $5,275,000.
- $4,975,000.
- $5,375,000.
- $3,800,000.
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