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Which of the following statements regarding the retained earnings of $8,000 for the year is correct? Select one: a. It is the net profit of

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Which of the following statements regarding the retained earnings of $8,000 for the year is correct? Select one: a. It is the net profit of the period. b. It is the amount of surplus cash in the business. c. It is the amount of profits the owner can take out of the business. d. It is the net profits kept in the business after owner's drawings

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