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The Retained Earnings account of Lentrio Co. on January 1, 20x1, had a balance of $200,000. Revenues and Expenses for 201 were $440,000 and $330,000,
The Retained Earnings account of Lentrio Co. on January 1, 20x1, had a balance of $200,000. Revenues and Expenses for 201 were $440,000 and $330,000, respectively. Dividends of $40,000 were paid during 201. What are the Net Income (NI) for 20x1 and the balance of the Retained Earnings account (RE) on December 31, 20x1
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
