During a study session, one of your classmates states the following: Companies that have a large amount
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During a study session, one of your classmates states the following: “Companies that have a large amount of retained earnings have been profitable. They should distribute the retained earnings as dividends, or pay off any debt, or invest the amount to generate some extra income for the company.”
Required
Evaluate your classmate’s response. Identify the elements that are correct and incorrect.
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Related Book For 
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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