Calculate profit and prepare a statement of retained profits The accounts for Katherine Ltd for last year

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Calculate profit and prepare a statement of retained profits The accounts for Katherine Ltd for last year included the following (in alphabetical order):

Dividends declared & paid 75 000 DR Income tax expense 210 250 DR Miscellaneous revenue from investments 7 950 CR Operating expenses 2 403 170 DR Retained profits, beginning of year 260 090 CR Revenue from sales 3 519 400 CR Calculate net profit, and prepare a note to show the change in retained profits for the year.

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