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What is the balance in norton retained earnings

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Reference no: EM132093668

Question - Norton Inc. had a credit balance in Retained earnings at the beginning of the year (January 1, 2014) of $112,000. During 2014, Norton Inc. had Revenues of $45,000 and Expenses of $57,000. In addition, Norton paid dividends of $6,000. What is the balance in Norton's Retained Earnings account on the 12/31/2014 balance sheet?

A. $124,000

B. $100,000

C. $106,000

D. $118,000

E. $94,000

Reference no: EM132093668

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