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Biglo Chemical Company reported the following in the statement of comprehensive income for the year ended December 31: Income from continuing operations before tax $600,000
Biglo Chemical Company reported the following in the statement of comprehensive income for the year ended December 31: Income from continuing operations before tax $600,000 Income tax expense (140,000) Net income 460,000 Other comprehensive income 110,000 Comprehensive income 240,000 During the year, the company paid $61,000 in dividends and purchased treasury stock with a par value of $10,000 at a cost of $70,000. If the balance of Retained Earnings at the beginning of the year was $380,000, what is the balance of Retained Earnings at the end of the year? A. $620.000 B. $559,000 C. $840,000 OD. $779,000
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