Currier corporation began 2018 with retained earnings of $300 million. revenues during the year were $480 million, and expenses totale $290 million. currier declared dividends of $54 million. what was the company's ending balance of retained earnings? to answer this question, prepare currier's statement of retained earnings for the year ended december 31, 2018, complete with its proper heading.

$436 million

Explanation:

For the year ended December 31, 2020, the preparation of the retained earnings statement is provided below:

                                             Currier Corporation

                                    Retained Earning statement

                              For the year ended December 31, 2020

Beginning balance of retained earnings     $300 million

Add: Net income                                           $190 million

Less: dividend declared                               -$54 million

Ending balance of retained earnings         $436 million

The net income would be

= Revenues - expenses

= $480 million - $290 million

= $190 million