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Golden Enterprises started the year with the following: Assets $125,000; Liabilities $42,500; Common Stock $72,500; Retained Earnings $10,000, During the year, the company earned revenue

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Golden Enterprises started the year with the following: Assets $125,000; Liabilities $42,500; Common Stock $72,500; Retained Earnings $10,000, During the year, the company earned revenue of $6,600, all of which was received in cash, and incurred expenses of $3,800, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $2,600 to owners. Assume no other actlvities occurred during the year. The amount of Golden's retained earnings at the end of the year is: Multiple Choice $10.200. $16,600. $2,600. $12,800

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