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CN Company's balance sheet as of December 31, 2019 showed total assets of $510,000, and total liabilities of $210,000, and common stock of $192,000.
CN Company's balance sheet as of December 31, 2019 showed total assets of $510,000, and total liabilities of $210,000, and common stock of $192,000. During 2020, the company reported revenues of $192,000, expenses of $150,000, and paid dividends of $48,000. What was the balance in the Retained Earnings account on January 1, 2021? Select one: A. $102,000 OOO B. $108,000 C. $168,000 OD. $84,000
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
9780132776073, 132776014, 978-0132776011
