Question: Question 1 ( 1 point) Phillip Camera Store had a retained earnings balance of $31,000 on January 1, 20XX. For the year 20XX, sales were

Question 1 ( 1 point) Phillip Camera Store had a retained earnings balance of $31,000 on January 1, 20XX. For the year 20XX, sales were $520,000 and expenses were $250,000. The company declared and paid cash dividends of $43,000 during the year 20XX. What was the ending retained earnings on the balance sheet for Phillip Camera Store at December 31, 20XX

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