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f the Net Income for 2018 = 48,000.and the retained earnings at the beginning of 2018 = 90,000 and the retained earnings at the end

f the Net Income for 2018 = 48,000.and the retained earnings at the beginning of 2018 = 90,000 and the retained earnings at the end of 2018 = 94,000

Then the dividends would be

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