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At the end of 2017. Aggie Corp had a balance in retained earnings of $26,000. Aggie Corp's results and activities for 2018 are described below.

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At the end of 2017. Aggie Corp had a balance in retained earnings of $26,000. Aggie Corp's results and activities for 2018 are described below. Aggie Corp had income before taxes of $40,000. Aggie Corp pays a 25% tax rate on all income. Aggie Corp issued debt for $40,000, and sold 1000 shares (Par value =$1 per share) for $10 each. Aggie Corp declared and paid $18,000 in cash dividends. Aggie Corp had other comprehensive income of $12,000 (net of tax). What is the balance of retained earnings at the end of 2018? O 38.000 O 100,000 O 12.000 O 6,000 O 50,000 56,000

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