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7. The Treasure Chest Corporation had Retained Earnings at the end of December 31, 2015 of $451,000. During 2016, the company had net income of
7.
The Treasure Chest Corporation had Retained Earnings at the end of December 31, 2015 of $451,000. During 2016, the company had net income of $171,000 and declared dividends of $20,100. The amount of Retained Earnings reported on the balance sheet as of December 31, 2016 will be: |
A) $642,100.
B) $622,000.
C) $430,900.
D) $601,900.
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