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Show your work and the formula that you used. A for-profit nursing home has beginning-of-period retained earnings of $40,000. Net income for the period totals

Show your work and the formula that you used.

A for-profit nursing home has beginning-of-period retained earnings of $40,000. Net income for the period totals $75,000 and dividends declared during the period total $15,000. The balance sheet total for retained earnings will be what amount?

A. $100,000

B. $ 90,000

C. $ 75,000

D. $130,000

E. none of the above

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