70. Garrison Industries Garrison Industries began operations on January 2, 2014, with an investment of $50,000 by each of its two stockholders. Net income for its first year of business was $240,000. Garrison Industries paid a total of $100,000 in dividends to its stockholders during the year. Read the information about Garrison Industries. What is the company's retained earnings balance at December 31, 2014? A. $140,000 B. $190,000 C. $240,000 D. $340,000 | |
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