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Loot Company has a beginning retained earnings balance of $6,000. It has the following account balances at the end of the first year of operations:
Loot Company has a beginning retained earnings balance of $6,000. It has the following account balances at the end of the first year of operations:
Accounts Payable | $37,000 |
Revenues | $106,000 |
Unearned Revenues | $15,000 |
Salaries Expense | $14,000 |
Dividends | $8,000 |
Utilities Expense | $12,000 |
Accrued Expenses | $13,000 |
Advertising Expense | $10,000 |
Prepaid Expenses | $16,000 |
Short-term Investments | $20,000 |
Cash | $33,000 |
Land | $50,000 |
Common Stock | $53,000 |
What is the ending balance in Retained Earnings?
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