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ABC Company reported the following figures on the Balance Sheet: Retained Earnings Beginning of Year= $5,000,000. Retained Earnings End of Year = $6,000,000. If ABC

ABC Company reported the following figures on the Balance Sheet:

Retained Earnings Beginning of Year= $5,000,000.

Retained Earnings End of Year = $6,000,000.

If ABC Company reported Net Income for the Year of $1,200,000, how much dividends did they pay during the year?

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