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Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with $180,000 of retained earnings versus the prior year's

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Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with $180,000 of retained earnings versus the prior year's retained earnings of $132,250. How much net income did the firm earn during the year? Select the correct answer. a. $69,500 b. $69,636 c. $69,432 d. $69,568 e. $69,704

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