Moving to the next question prevents changes to this answer Question 14 of 18 Jestion 14 5 points Save Answer Colfax Corporation had a Retained Earnings balance on January 1, 2009. of S720,000, declared cash dividends during 2009 in the amount of $123,000, of which $50,000 were not paid until 2010; and reported an ending balance of Retained Earnings of $1,220,000 Based on these facts alone, net income for 2009 for Colfax Corporation must have been S423,000. $623,000 $393,000 S323,000