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The firm earned net income of 6 million in 2008 and paid

Statement of Retained Earnings Z, Corp. began the year 2008 with $1.9 million in retained earnings. The firm earned net income of $6 million in 2008 and paid $2.91 million to its common stockholders. What is the year-end 2008 balance in retained earnings for Z?

a. $7.9 million

b. $10.81 million

c. $1.19 million

d. $4.99 million

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Finance Basics: The firm earned net income of 6 million in 2008 and paid

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