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E18.3 Engstrom Company began fiscal 2019 with a $40,000 deficit balance in retained earnings. During 2019 its net income was $167,890 and it has declared

E18.3 Engstrom Company began fiscal 2019 with a $40,000 deficit balance in retained earnings. During 2019 its net income was $167,890 and it has declared but not paid dividends of $50,000. What is the ending balance of retained earnings for Engstrom

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