Q1-50. Advanced Instruments had retained earnings of $150,000 at December 31, 20X5. Net income for 20X6 totaled
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Q1-50. Advanced Instruments had retained earnings of $150,000 at December 31, 20X5. Net income for 20X6 totaled $120,000, and dividends for 20X6 were $20,000. How much retained earnings should Advanced Instruments report at December 31, 20X6?
a. $150,000
c. $130,000
b. $250,000
d. $290,000
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Related Book For 
Financial Accounting International Financial Reporting Standards Global Edition
ISBN: 9781292211145
11th Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison
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