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A firm had year end 2019 and 2020 retained earnings balances of $350,000 and $400,000, respectively. The firm reported net profits after taxes of $100,000

A firm had year end 2019 and 2020 retained earnings balances of $350,000 and $400,000, respectively. The firm reported net profits after taxes of $100,000 in 2020. The firm paid dividends in 2020 of a. $50,000 b. $40,000 O c. $10,000 O d. $30,000

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