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Question 22 A company has the following information for the year ended December 31, 2020: Beginning retained earnings: 5,600,000 Net Income = $1,500,000 Preferred share

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Question 22 A company has the following information for the year ended December 31, 2020: Beginning retained earnings: 5,600,000 Net Income = $1,500,000 Preferred share dividends: $300,000 Common share dividends: $100,000 What is the ending retained earnings? 6,700,000 5,600,000 7,000,000 6,800,000

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