New Hampshire Services reported $2.3 million of retained earnings on its 2012 balance sheet. In 2013, the
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Question:
New Hampshire Services reported $2.3 million of retained earnings on its 2012 balance sheet. In 2013, the company lost money; its net income was -$500,000 (negative $500,000). Despite the loss, the company still paid a $1.00 per share dividend. The company's earnings per share for 2013 were -$2.50 (negative $2.50). What was the level of retained earnings on the company's 2013 balance sheet?
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