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Stork, Inc., had revenues of $395,000, expenses of $155,000, and dividends of $54,000 during the current year. Based on the given information, which of the
Stork, Inc., had revenues of $395,000, expenses of $155,000, and dividends of $54,000 during the current year. Based on the given information, which of the following statements is true? a. Net income for the current year totaled $186,000. b. Total retained earnings decreased by $186,000 during the current year. c. Total retained earnings increased by $240,000 during the current year. d. Net income for the current year totaled $240,000
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