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What is the projected retained earnings on dec

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Question - A company's retained earnings on Dec. 31st, 2009 to 2013 is as follows

Retained Earnings

2009 $15,000

2010 $18,000

2011 $16,000

2012 $21,000

2013 $25,000

On the Pro-forma income statement for 2014, the net income is $10,000. The expected dividends to be paid in 2014 is $3,500. What is the projected retained earnings on Dec. 31st, 2014?

1) $15,000

2) $18,500

3) $31,500

4) $35,000

Reference no: EM131961803

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