XYZ Company had a beginning balance of $2,346,888 in retained earnings as of 12/31/2020. During...
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Accounting
XYZ Company had a beginning balance of $2,346,888 in retained earnings as of 12/31/2020. During the year of 2020 it generated net income of $100,000. Its sales were $1,500,000 and its cash account increased by $200,000. No dividends were paid. What is the balance of Retained Earnings as of 12/31/2021?
Question 6 options:
2,346,888
2,446,888
2,546,888
3,846,888
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