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Limited began the year with common shares of $150,000 and retained earnings of $470,000. During the year, it issued an additional $50,000 of common shares,

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Limited began the year with common shares of $150,000 and retained earnings of $470,000. During the year, it issued an additional $50,000 of common shares, reported net income of $80,000, and declared dividends of $15,000. Calculate the ending balances of (1) common shares, (2) retained earnings, and (3) total shareholders' equity

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