Refer to Been There Used Furniture. Calculate the retained earnings balance at December 31, 2019.

Calculator Been There Used Furniture Been There Used Furniture began operation on January 1, 2019, with an initial investment of $100,000 from each of its five stockholders. During the year, the company had net income of $200,000 and paid dividends of $50,000. Refer to Been There Used Furniture. Calculate the retained earnings balance at December 31, 2019. a. $650,000 b. $150,000 c. $500,000 d. $200,000