HELP! Grason Corporation is preparing a budgeted balance sheet for 2018. The retained earnings balance at December 31, 2017 was $524,500. The 2018 budgeted income statement shows expected net income of $107,500. The company expects to declare dividends during 2018 amounting to $35,500. The expected balance in retained earnings on the 2018 budgeted balance sheet is:

Grason Corporation is preparing a budgeted balance sheet for 2018. The retained earnings balance at December 31, 2017 was $524,500. The 2018 budgeted income statement shows expected net income of $107,500. The company expects to declare dividends during 2018 amounting to $35,500. The expected balance in retained earnings on the 2018 budgeted balance sheet is: Multiple Choice $524,500. $596,500. $632,000. $489,000. $667,500