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2. The Big Spring Bike Co. had retained earnings of $742,000 on Jan. 1, 2018. The firm paid common stock dividends of $48,750 during the

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2. The Big Spring Bike Co. had retained earnings of $742,000 on Jan. 1, 2018. The firm paid common stock dividends of $48,750 during the year (there is no preferred stock) and ended the year with retained earnings of $850,000. Calculate the amount of net income earned by the company during 2018

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