Sheridan company began the year with retained earnings of $659000. during the year, the company recorded revenues of $6, expenses of $38, and paid dividends of $141500. what was sheridan retained earnings at the end of the year? a. $1131500b. $6c. $737500d. $1017500

C. $737,500

Explanation:

The formula to compute the ending balance of retained earning is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

= $659,000 + $220,000 - $141,500

= $737,500

The net income is calculated below:

= Sales revenues - expenses

$600,000 - $380,000

= $220,000

answer when little or no data is available;

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