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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

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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 of $19,400. Calculate the retained earnings balance at its December 31 year-end. Ending retained earnings

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