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The beginning balances of the shareholders' equity of an entity at December 31, 20x2 are as follows: $4664673 Common shares, 1,000,000 shares issued Retained earnings

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The beginning balances of the shareholders' equity of an entity at December 31, 20x2 are as follows: $4664673 Common shares, 1,000,000 shares issued Retained earnings $2524184 The net income for the year was $546524 and dividends declared were $237616. What is the balance in retained earnings at December 31, 20x3? Select one: O a. $7497765 O b. $2633092 O c. $2524184 O d. $2833092

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