An analyst has collected the following information regarding a company in advance of its year-end earnings announcement (in millions):
|
Estimated net income |
$200 |
|
Beginning retained earnings |
$1,400 |
|
Estimated distribution to owners |
$100 |
The analyst’s estimate of ending retained earnings (in millions) should be closest to
a. $1,300.
b. $1,500.
c. $1,700.