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The ending Retained Earnings balance of ABC Inc. decreased by $1.7 million from the beginning of the year. The company declared a dividend of S4.3 million during the year. What was the net income for the year? Multiple Choice O $45 million O $6.0 million O $27 million 526 mon ABC has an ending Retained Earnings balance of $52,600. If during the year ABC paid dividends of $4,300 and had net income of $21,300, then what was the beginning Retained Earnings balance? Multiple Choice $32.700 $69.600 O $27000 O $35.600 X6p Construction Company has the following account balances reported on its financial statements on December 31, 20X1. In addition, the company did not issue any common stock during 20X1. All accounts on financial statements have been adjusted and reported. Common stock 60 Equipment (net) $550 Loan 180 Deferred revenue 145 Utility expense 60 Depreciation for the year 70 Supplies 100 Sales revenue 390 Dividend paid during the year 20 Cash 85 Retained earnings ? Required: Please choose the best answer for the following three questions based on the above information. What is the net income reported in 20X1? $260 $310 $175 $240 What is the balance of total assets on December 31, 20x12 5565 O $735 O $820 $880 What is the balance of retained earnings on December 31, 20X12 5580 O $300 $350 5660 N

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