At december 31, 2017, shorts company had retained earnings of $2,184,000. during 2017, the company issued stock for $98,000, and paid dividends of $34,000. net income for 2017 was $402,000.
how much was the retained earnings balance at the beginning of 2017?
a) $2,552,000
b) $2,454,000
c) $1,816,000
d) $1,914,000

Comparative financial statements for weller corporation, a merchandising company, for the year ending december 31 appear below. the company did not issue any new common stock during the year. a total of 800,000 shares of common stock were outstanding. the interest rate on the bonds, which were sold at their face value, was 12%. the income tax rate was 40% and the dividend per share of common stock was $0.40 this year. the market value of the company's common stock at the end of the year was $18. all of the company's sales are on account. time interest earned ratio