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The Elsinore Brewery had beginning retained earnings of $18,670. During the year, the company reported sales of $83,490, costs of $68,407, depreciation of $8,200, dividends
The Elsinore Brewery had beginning retained earnings of $18,670. During the year, the company reported sales of $83,490, costs of $68,407, depreciation of $8,200, dividends of $950, and interest paid of $478. The tax rate is 35 percent. Put together the income statement and then tell me what the retained earnings balance is at the end of the year? a)b)c)d)e)$21,883.25$22,193.95$22,833.24$23,783.24$30,393.95
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