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Night Scapes, Corp. began the year 2013 with $10 million in retained earnings. The firm suffered a net loss of $2 million in 2013 and
Night Scapes, Corp. began the year 2013 with $10 million in retained earnings. The firm suffered a net loss of $2 million in 2013 and yet paid $2 million to its preferred stockholders and $1 million to its common stockholders. What is the year-end 2013 balance in retained earnings for Night Scapes?
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