Question
On January 1, 2019, Miller Corporation had retained earnings of $8,800,000. During 2019, Miller reported net income of $1,470,000, declared dividends of $470,000, and issued
On January 1, 2019, Miller Corporation had retained earnings of $8,800,000. During 2019, Miller reported net income of $1,470,000, declared dividends of $470,000, and issued common stock for $1,180,000. What were Miller's retained earnings on December 31, 2019?
Multiple Choice
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$7,620,000
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$10,270,000
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$9,800,000
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$8,330,000
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
15th edition
1259994975, 125999497X, 1259631117, 978-1259631115
