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At the end of Year 2, retained earnings for the Biscuit Company was $2,850. Revenue earned by the company in Year 2 was $3300, expenses
At the end of Year 2, retained earnings for the Biscuit Company was $2,850. Revenue earned by the company in Year 2 was $3300, expenses paid during the period were $1,650, and dividends paid during the period were $1,050. Based on this information alone, what was the amount of retained earnings at the beginning of Year 2? Hint: You need to calculate net income to solve this problem Multiple Choice $1,400 $3,250 $6,200 $2,450 Submit
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