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Thompson Instruments had retained earnings of $340,000 at December 31, 2015. Net income for 2016 totaled $185,000, and dividends for 2016 were $85,000. How much

Thompson Instruments had retained earnings of $340,000 at December 31, 2015. Net income for 2016 totaled $185,000, and dividends for 2016 were $85,000. How much retained earnings should Thompson report at December 31,2016?

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