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The Treasure Chest Corporation had Retained Earnings at the end of December 31, 2015 of $460,000. During 2016, the company had net income of $180,000
The Treasure Chest Corporation had Retained Earnings at the end of December 31, 2015 of $460,000. During 2016, the company had net income of $180,000 and declared dividends of $21,000. The amount of Retained Earnings reported on the balance sheet as of December 31, 2016 will be: |
$640,000.
$619,000.
$439,000.
$661,000.
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