Blue Fin started the current year with assets of $840,000, liabilities of $420,000 and common stock of $240,000. During the current year, assets increased by $480,000, liabilities decreased by $60,000 and common stock increased by $330,000. There was no payment of dividends to owners during the year.Based on this information, what was the amount of Blue Fin's retained earnings at the beginning of the year?
A. $1,020,000
B. $420,000
C. $180,000
D. $660,000
Answer: C
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