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McKinley Company owns 15,000 of the 50,000 outstanding shares of Ranier Corporation common stock and can exert significant influence over Ranier. During 2022, Ranier earns

McKinley Company owns 15,000 of the 50,000 outstanding shares of Ranier Corporation common stock and can exert significant influence over Ranier. During 2022, Ranier earns $350,000 and pays cash dividends of $140,000.

What is the 2022 effect on McKinleys Retained Earnings?

Select one:

a. $63,000

b. $147,000

c. $105,000

d. $56,000

e. $42,000

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