On January 1, Payson Incorporated had a retained earnings balance of $48,000. During the year, Payson reported net income of 532,800 and paid cash dividends of $19,800. Calculate the retained earnings balance at its December 31 year-end. Ending retained earnings

Pn January 1, Payson Incorporated had a retained earnings balance of $48,000. During the year, Payson reported net income of 32,800 and paid cash dividends of $19,800. Calculate the retained earnings batance at its December 31 year-end On January 1, Payson Incorporated had a retained earnings balance of $48,000. During the year, Payson reported net income of $32,800 and paid cash dividends of $19,800. Calculate the retained earnings balance at its December 31 year-end. On January 1, Payson Incorporated had a retained earnings balance of $48,000. During the year, Payson reported net income of $32,800 and paid cash dividends of $19,800. Calculate the retained earnings balance at its December 31 year-end