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4. Retained earnings as of 12/31/2019 were $15,000,000. Net income for the year ending 12/31/2019 was $600,000. Bonds were issued for $2,000,000, Dividends of $50,000
| 4. | Retained earnings as of 12/31/2019 were $15,000,000. Net income for the year | |||||
| ending 12/31/2019 was $600,000. Bonds were issued for $2,000,000, Dividends of | ||||||
| $50,000 were paid, and Treasury Stock was issued for $80,000 during 2019. | ||||||
| a. | Calculate the beginning retained earnings balance as of 1/1/2019. | |||||
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