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Dover River Company has current operating profit of $200,000 before taxes. Interest expense is $10,000, dividends paid on preferred shares were $18,750, and common dividends
Dover River Company has current operating profit of $200,000 before taxes. Interest expense is $10,000, dividends paid on preferred shares were $18,750, and common dividends paid of $30,000. The company paid taxes of $61,250. The company has 20,000 outstanding common shares Determine the increase in retained earnings for the year.
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