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A company had a beginning balance in retained earnings of $43,600. It had net income of $6,600 and declared and paid cash dividends of $5,775

A company had a beginning balance in retained earnings of $43,600. It had net income of $6,600 and declared and paid cash dividends of $5,775 in the current period. The ending balance in retained earnings equals:Multiple Choice$55,975.$44,425.$12,375.$5,775.$42,775.

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