From the Following Information, Determine the Beginning Balance in the Retained

From the following information, determine the beginning balance in the Retained Earnings account. $$\begin{array} { l l } \text { Dividends } & \$ 8,000 \\\text { Ending Retained Earnings } & 30,000 \\\text { Net Income } & 14,000 \\\text { Paid-in Capital, beginning } & 29,000 \\\text { Paid-in Capital, ending } & 26,000\end{array}$$

A) $24,000
B) $2,000
C) $46,000
D) None of these answers is correct.

Correct Answer:

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