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On January 1, Payson Incorporated had a retained earnings balance of $44,000. During the year, Payson reported net income of $32.400 and paid cash dividends
On January 1, Payson Incorporated had a retained earnings balance of $44,000. During the year, Payson reported net income of $32.400 and paid cash dividends of $19,400. Calculate the retained earnings balance at its December 31 year-end. Ending retained earnings
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Money Banking and Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
5th edition
77536320, 77536329, 1259746747, 978-1259746741
