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On January 1, James Incorporated had a retained earnings balance of $148,000. During the year, James reported net income of $206,000 and paid cash dividends

On January 1, James Incorporated had a retained earnings balance of $148,000. During the year, James reported net income of $206,000 and paid cash dividends of $65,000. Calculate the retained earnings balance at its December 31 year-end. Multiple Choice $148,000. O O $289,000. $206,000. O O $75,000. O $354,000

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