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The Century Companys adjusted balances as of December 31 follow: Sales $25,000; Cost of Goods Sold $10,000; Selling and Administrative Expenses $3,750; and Interest Expense
The Century Companys adjusted balances as of December 31 follow: Sales $25,000; Cost of Goods Sold $10,000; Selling and Administrative Expenses $3,750; and Interest Expense $1,875. Beginning retained earnings were $10,625 and dividends paid during the year were $2,500. Determine Century Company's ending Retained Earnings balance
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