Problem: The Andrews company currently has the following balances in their equity accounts:
Common Stock $33,881
Retained earnings $97,166
Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year?
a. $127,466
b. $131,047
c. $147,047
d. $80,181