Marcos Inc. had net income for 2014 of $40,000. It declared and paid a $3,500 cash dividend in 2014. If the company's retained earnings for the end of the year was $38,200, what was the company's retained earnings balance at the beginning of 2014?

a. $81,700

b. $74,700

c. $1,700

d. $5,300

Sawyer Corporation purchased land in 2009 for $490,000. In 2015, it purchased a nearly identical parcel of land for $660,000. In its 2015 balance sheet, Sawyer valued these two parcels of land at a combined value of $1,320,000. By reporting the land in this manner, Sawyer Corporation has violated which of the following?

a. time period assumption.

b. cost principle.

c. going concern assumption.

d. monetary unit measure.

d. monetary unit measure

At December 31, 2015, the accounting records of Wyndam Corporation contain the following:

Accounts payable	$16,000		Accounts receivable	$40,000
Land	240,000		Cash	?
Capital stock	?		Equipment	120,000
Building	180,000		Notes payable	190,000
Retained earnings	160,000

If capital stock is $260,000, what is the December 31, 2015 cash balance?

a. $94,000

b. $506,000

c. $86,000

d. $46,000