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12 February, 15:09

Grizzly Company had Retained Earnings at December 31, 2018 of $300,000. During 2019, the company had revenucs of $600,000 and expenses of $525,000, and the company declared and paid dividends of $16,500. Retained earnings on the balance sheet as of December 31, 2019 will be

a. $375,000

b. $358,500.

c. $58,500.

d. $433,500.

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  1. 12 February, 16:36
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    b. $358,500

    Explanation:

    Given;

    Retained Earnings at December 31, 2018 = $300,000

    In 2019,

    Revenue = $600,000

    Expenses = $525,000

    Declared and paid dividends = $16,500

    Retained earnings on the balance sheet as of December 31, 2019

    = $300,000 + $600,000 - $525,000 - $16,500

    = $358,500

    The right option is b. $358,500
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