DW has an ending Retained Earnings balance of $52,100. If during the year DW paid dividends of $4,200 and had net income of $22,300. then what was the beginning Retained Earnings balance? Multiple Choice $70,200 o $25,600 O $34.000 o $10.500 The economic entity assumption states that in the absence of information to the contrary, the business entity will continue to operate indefinitely. True or False True False