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A company began the year with $84,000 in its common stock account and a credit balance in retained earnings of $36,000. During the year, the
A company began the year with $84,000 in its common stock account and a credit balance in retained earnings of $36,000. During the year, the company earned net income of $124,000 and declared and paid $6,000 of dividends. In addition, the company sold additional common stock amounting to $22,000. What is its ending retained earnings? O $166.000 O $172.000 O $176.000 $154,000 O $160.000
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