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Why is the answer C? 2. Assume that the balance in Retained Earnings at the end of year is $100,000, and that it decreased by

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2. Assume that the balance in Retained Earnings at the end of year is $100,000, and that it decreased by 15% during the year. The balance in Retained Earings at the beginning of the year was closest to? (A) $120,000. (B) $115,000. (C) $117,647. (D) $85,000

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