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Question 26 Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings
Question 26
Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the beginning of the year | $ | 268,000 | |
Cash dividends declared for the year | 58,750 | ||
Proceeds from the sale of equipment | 100,400 | ||
Gain on the sale of equipment | 5,550 | ||
Cash dividends payable at the beginning of the year | 25,850 | ||
Cash dividends payable at the end of the year | 33,500 | ||
Net income for the year | 129,250 | ||
The ending balance in retained earnings is:
Multiple Choice
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$344,050.
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$397,250.
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$262,550.
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$348,100.
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$338,500.
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