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Kamili Company had the following accounting balances for Year 1: Account Amount Net Income $25,000 Retained Earnings (beginning of the year) 40,000 Dividends 10,000 Unrealized

Kamili Company had the following accounting balances for Year 1:

Account Amount
Net Income $25,000
Retained Earnings (beginning of the year) 40,000
Dividends 10,000
Unrealized Gain on Available-for-Sale Securities 18,000
Foreign Currency Translation Adjustment (increase) 4,000
Prior-period adjustment--correction of previously OVERstated employee training expense 20,000

The beginning retained earnings amount does NOT reflect any necessary adjustments. The correct ENDING retained earnings balance is which of the following figures?

$75,000

$35,000

$93,000

$97,000

$57,000

$55,000

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