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Hayes Enterprises began 2012 with a retained earnings balance of $928,000. During 2012, the firm earned $377,000 after taxes. From this amount, preferred stockholders were

Hayes Enterprises began 2012 with a retained earnings balance of $928,000. During 2012, the firm earned $377,000 after taxes. From this amount, preferred stockholders were paid $47,000 in dividends. At year-end 2012, the firm

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