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Advanced Instruments had retained earnings of $350,000 at December 31, 2020. Net income for 2021 totaled $180,000, and dividends declared for 2021 were $70,000.
Advanced Instruments had retained earnings of $350,000 at December 31, 2020. Net income for 2021 totaled $180,000, and dividends declared for 2021 were $70,000. How much retained earnings should Advanced report at December 31, 2021? OA. $460,000 OB. $420,000 OC. $350,000 D. $530,000
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Financial accounting
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
8th Edition
9780135114933, 136108865, 978-0136108863
