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Posted on Jul 22, 2024

On 31 st Dec 2025, Company X reported retained earnings of $385,000 on its balance sheet, and it reported that it had $180,000 of net

On 31^st Dec 2025, Company X reported retained earnings of $385,000 on its balance sheet, and it reported that it had $180,000 of net income during the year. On its previous balance sheet, on 31^st Dec 2024, the company had reported $365,000 of retained earnings. How much in dividends did the firm pay during 2018? Show your calculation in detail.

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