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1. A firm has a year-end retained earnings balance of $220,000 for 2018. The firm reported net profits after taxes of $50,000 and paid dividends

1. A firm has a year-end retained earnings balance of $220,000 for 2018. The firm reported net profits after taxes of $50,000 and paid dividends of $30,000 in 2019. The firm's retained earnings balance at 2019 year end is

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