Posted: September 23rd, 2016

The total equity of Bane Company at the beginning of 2008 amounted to $2,500

The total equity of Bane Company at the beginning of 2008 amounted to $2,500. During 2008 the company reported net income of $1,200 and paid a $500 dividend. If retained earnings at the end of 2008 is $1,100, what was beginning contributed capital?

A. $1,200
B. $2,100
C. $400
D. $1,800