Rock Mountain Company earns a net income of $$574,000$ and pays dividends of $$52,000$ during the period. Rock Mountain has ending retained earnings of $$978,000.$

The balance in Rock Mountain$$s beginning retained earnings must have been:

Question $49$ options:

A$)$

$$456,000$

B$)$

$$626,000$

C$)$

$$688,000$

D$)$

$$522,000$

Answer rating: 100% (QA)

To find the beginning retained earnings we can use the formula Beginning Retained Earnings ... View the full answer