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Company X had a retained earnings beginning balance (unadjusted) of $245,000. Net income for the year was $22,300. The ending balance of retained earnings was
Company X had a retained earnings beginning balance (unadjusted) of $245,000. Net income for the year was $22,300. The ending balance of retained earnings was $255,000. They also discovered two errors that caused interest expense to be overstated by $1,000 and dividend revenue to be overstated by $1,500. They corrected these errors as a prior period adjustment to retained earnings. What was dividends for the year?
$14,800
$13,000
$11,800
$9,800
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