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The Treasure Chest Corporation had Retained Earnings at the end of December 31, 2015 of $465,000. During 2016, the company had net income of $185,000

The Treasure Chest Corporation had Retained Earnings at the end of December 31, 2015 of $465,000. During 2016, the company had net income of $185,000 and declared dividends of $21,500. The amount of Retained Earnings reported on the balance sheet as of December 31, 2016 will be:

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