Question 6

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Balance Inc. reports a net loss for the year of $(54) million, retained earnings at the end of the year of $21,902 million, and dividends during the year of $1,442 million. What was the companys retained earnings balance at the start of the year?

Select one:

a. There is not enough information to calculate the amount.

b. $23,398 million

c. $21,956 million

d. $20,514 million

e. $20,406 million