12. Stockholders' Equity
Retained Earnings
Multiple Choice
Multiple ChoiceOn January 1, 2018, XYZ Company had a balance of retained earnings of $420,000. During 2018, the company earned net income of $205,000 and also paid dividends. If the balance of retained earnings on December 31, 2018 was $340,000, how much was paid in dividends?
A
$80,000
B
$125,000
C
$205,000
D
$285,000
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