Question 16 Not yet answered Marked out of 0.50 Samaha Corporation reported retained earnings of $700,000 at January 1, 2020. During the year, the company suffered from a net loss of $300,000 and declared cash dividends of $80,000. Compute the retained earnings balance at December 31, 2020? a. $920,000 O b. $400,000 c. $320,000 d. $1,000,000 Clear my choice