Homework Answers
Answer :- Calculation of the amount of Retained Earnings at March 31, 2020 :-
Retained Earnings at March 31, 2020 = Retained Earnings at March 1 + Net Income - Dividends
Retained Earnings at March 31, 2020 = $40,000 + $8,800 - $2,300
Retained Earnings at March 31, 2020 = $46,500
So the correct answer is option C. ( $46,500)
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