. As of January 1, 20XX, Elena’s Store had a balance in its retained earnings account of $100,000. During the year Elena’s Store had revenues of $80,000 and expenses of $45,000. In addition, the business paid cash dividends of $20,000. What is the balance in Retained Earnings at December 31, 20XX for Elena’s Store?

a. $100,000 b. $115,000 c. $135,000 d. $155,000

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The detailed answer for the above question is provided below b 115000 The ... View the full answer