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Trio Inc. reported retained earnings of $515,501 on December 31, 2017. During the year, Trio...

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Finance

Trio Inc. reported retained earnings of $515,501 on December 31, 2017. During the year, Trio recorded net income of $141,829 and paid dividends of $60,650 . The company had no other transactions that affected retained earnings. What must retained earnings have been on December 31, 2016? Select one: a. None of these are correct. b. $596,680 c. $576,151 d. $60,650 e. $434,322

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