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17. During 2010, its first year of operations, Jane's Bakery had revenues of $40,000 and expenses of $22,000. The business paid cash dividends of $12,000.

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17. During 2010, its first year of operations, Jane's Bakery had revenues of $40,000 and expenses of $22,000. The business paid cash dividends of $12,000. What is the balance in Retained Earnings at December 31, 2010? a. $0 b. $12,000 debit. c. $6,000 credit. d. $18,000 credit

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