Question
Alvarez Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at
Alvarez Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 318,000 Cash dividends declared for the year 71,250 Proceeds from the sale of equipment 122,400 Gain on the sale of equipment 7,050 Cash dividends payable at the beginning of the year 31,350 Cash dividends payable at the end of the year 38,500 Net income for the year 156,750 The ending balance in retained earnings is:
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$474,750.
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$403,500.
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$416,100.
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$410,550.
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$319,050.
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