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Business, 10.03.2020 01:56 rakanmadi87

Retained earnings balance at the beginning of the year $283,000
Cash dividends declared for the year 62,500
Proceeds from the sale of equipment 107,000
Gain on the sale of equipment 6,000
Cash dividends payable at the beginning of the year 27,500
Cash dividends payable at the end of the year 35,000
Net income for the year 137,500

Required:

The ending balance in retained earnings is:

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Retained earnings balance at the beginning of the year $283,000
Cash dividends declared for t...
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