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ABC Company made two purchases at the beginning of Year 1: Inventory costing $60 Land costing $500 Both were sold during Year 1: Inventory for

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ABC Company made two purchases at the beginning of Year 1: Inventory costing $60 Land costing $500 Both were sold during Year 1: Inventory for $90 Land for $1100 How much will Retained Earnings increase as a result of these transactions? $630 $30 $600 $0

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