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Question 8 On January 1, Year 1, a company's balance in retained earnings was $10,000,000. At December 31, Year 1, the balance in retained earnings

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Question 8 On January 1, Year 1, a company's balance in retained earnings was $10,000,000. At December 31, Year 1, the balance in retained earnings was $9,400,000. If the company earned net income of $440,000 during the year, how much were dividends? a. $440,000 b. $600,000 c. $1,000,000 d. $1,040,000

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