Answer:
Beginning retained earnings = $1816000
so correct option is C) $1,816,000
Explanation:
given data
retained earning = $2,184,000
issued stock = $98,000
paid dividends = $34,000
Net income = $402,000
to find out
retained earnings balance
solution
we know that Ending retained earnings equation is
Beginning retained earnings + Net income - Dividends = Ending retained earnings
put here value we get
Beginning retained earnings
so
Beginning retained earnings + $402,000 - $34,000 = $2,184,000
Beginning retained earnings = $1816000
so correct option is C) $1,816,000