The balance in the retained eamings account at the end of the year was $20,000. During the year, the company generated a net income.

Of $19,000 and declared and paid dividends for $5,000. The initial balance sheet of the Withheld Profits account was:

El balance en la cuenta de Ganancias Retenidas (retained earningstal finalizar el ao era $20,000. Durante el ato, la empresa pener un ingreso neto 32 de $19.000 y declar y pago dividendos por $5.000. El balance Inicial de la cuenta de Ganancias Retenides era 2016 Multiple Choice $34.000 $14,000 O $6.000 $39.000