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ABCD Ltd. has the following shareholders' equity section in its balance sheet: Common Stock: $100,000 Retained Earnings: $50,000 If ABCD Ltd. declared and paid a

ABCD Ltd. has the following shareholders' equity section in its balance sheet:

Common Stock: $100,000
Retained Earnings: $50,000

If ABCD Ltd. declared and paid a dividend of $20,000, calculate the new balance of retained earnings after the dividend payment.

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