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Moore Industries began operations on January 2, 2017, with an investment of $50,000 by each of its two stockholders. Net income for its first

Moore Industries began operations on January 2, 2017, with an investment of $50,000 by each of its two stockholders. Net income for its first year of business was $240,000. Moore Industries paid a total of $100,000 in dividends to its stockholders during the year. Read the information about Moore Industries. What is the company's retained earnings balance at December 31, 2017?

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