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K Corp, had a balance in Retained Earnings of $18,200 on January 1st. Year 5. K had these transactions in Year 5: 1. Purchased and
K Corp, had a balance in Retained Earnings of $18,200 on January 1st. Year 5. K had these transactions in Year 5: 1. Purchased and for $7,000 cash. 2. Acquired $29.000 cash from the issue of common stock. 3. Received $68,000 cash for providing services to customers, 4. Paid cash operating expenses of $41,600. 5. Borrowed $14,000 cash from the bank. 6. Paid a $7.000 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $39.000 What is the December 31, Year 5 (end of year) Retained Earnings balance
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