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The Retained Earnings accoiuit of Centiio Co. on January 1, 20x1. had a balance of $300,000. Revenues and Expenses for 20x1 were $450.000 and $300,000.

The Retained Earnings accoiuit of Centiio Co. on January 1, 20x1. had a balance of $300,000. Revenues and Expenses for 20x1 were $450.000 and $300,000. respectively. Dividends of $80.000 were paid during 20x1. What are the Net Income (NI) for 20x1 and the balance of the Retained Earnings account (RE) on December 31,20x 1 ?

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