On January 1, 20A Monmouth Corporation had retained earnings of $8,000,000. During 20A, they had net income of $1,550,000 and dividends of $450,000. What is the amount of Monmouth's retained earnings at the end of 20A?

A. $8,900,000
B. $9,550,000
C. $6,050,000
D. $9,100,000

Ans: D. $9,100,000

Business

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