Business, 27.06.2020 20:01 JellalFernandes

The income statement for Dobson Corporation reported net income of $22,400 for the year ended December 31 before considering the following: During the year, the company purchased available-for-sale securities. At year-end, the fair value of the investment portfolio was $2,100 more than cost. The balance of Retained Earnings was $83,000 on January 1. Dobson Corporation paid $9,000 in cash dividends during the year. Calculate the balance of Retained Earnings on December 31.

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The income statement for Dobson Corporation reported net income of $22,400 for the year ended Decemb...

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