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During the current year, a corporation earned income of $30,000, sold common shares for cash of $50,000, paid dividends of $25,000, and paid off debt
During the current year, a corporation earned income of $30,000, sold common shares for cash of $50,000, paid dividends of $25,000, and paid off debt of $5,000.
The retained earnings account ________.
1. decreased $5,000
2. increased $30,000
3. stayed the same
4. increased $5,000
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