Question: A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $130,000. During theyear, Sales Revenue amounted to $75,000, Cost

A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $130,000. During theyear, Sales Revenue amounted to $75,000, Cost of Goods Sold was $45,000, and all other expenses totaled $12,000. The company declared and paid $26,000 as dividends. The ending balance of Retained Earnings would be________.

$122,000

$174,000

$130,000

$148,000

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