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Dayton Corporation began the current year with a retained earnings balance of $19,408. During the year, the company corrected an error made in the prior
Dayton Corporation began the current year with a retained earnings balance of $19,408. During the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $2,422 on a piece of equipment. Also, during the current year, the company Barned net income of $13,279 and declared cash dividends of $4,243. Compute the year-end retained earnings balance. a. $19,408 b. $39.3521 c. $28,444 d. $26,022
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