Question - A company has retained earnings of $94,000 as of December 31, 2014. The Pro-forma income statement projects net income of $22,000 for 2015. The company expects to declare their annual dividend on March 15, 2015 of $0.70 per share and has a total of 100,000 shares outstanding.
What will the projected retained earnings account be as of December 31, 2015?
1) 186,000
2) $46,000
3) $16,000
4) $2,000