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On January 1, Payson Incorporated had a retained eamings balance of $50,000. During the year, Payson reported net Income of $33,000 and pald cash dividends
On January 1, Payson Incorporated had a retained eamings balance of $50,000. During the year, Payson reported net Income of $33,000 and pald cash dividends of $20,000. Calculate the retained earnings balance at its December 31 year-end
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