Help Save & Exit Submit The Retained Earnings balance was $23,400 on January 1. Net income for the year was $18,850. If Retained Earnings had a credit balance of $24.800 after closing entries were made for the year, and if additional stock of $5,700 was issued during the year, what was the amount of dividends declared during the year? Multiple Choice $11750 $25,950 $17.450 $24.550 D