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The ending retained earnings balance of Brothers Company is $700,000. Dividends declared are $150,000 during the current year. The beginning balance in retained earnings was

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The ending retained earnings balance of Brothers Company is $700,000. Dividends declared are $150,000 during the current year. The beginning balance in retained earnings was $480,000. How much was the net income (loss) during the year? Group of answer choices $370,000 net loss $220,000 net loss $700,000 net income $220,000 net income $370,000 net income

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