(Answered) A firm began operations on january 1 2013 with contributed

Accounting

A firm began operations on January 1, 2013, with contributed capital of $50,000.

2013 2014

Revenue $253,000 $572,000

Expense $125,400 $258,500

Dividends $ 35,200 $ 83,600

What was Retained Earnings at the end of each of the years? (Show the solution )

2013 2014

A. $ 92,400 $322,300

B. $127,600 $229,900

C. $ 92,400 $313,500

D. $127,600 $322,300

E. $ 92,400 $229,900

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