Problem:
At the end of 2013, retained earnings for the Bisk Company was $1,850. Revenue earned by the company in 2013 was $2,100, expenses paid during the period were $1,150, and dividends paid during the period were $550.
Required:
Question: Based on this information alone, retained earnings at the beginning of 2013 was
A. $4,200.
B. $900.
C. $1,450.
D. $2,250.
Note: Please explain comprehensively and give step by step solution.