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Assignment on statement of retained earnings

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Statement of Retained Earnings

TriCycle, Corp. began the year 2008 with $28 million in retained earnings. The firm earned net income of $8.8 million in 2008 and paid $1.18 million to its preferred stockholders and $3.18 million to its common stockholders. What is the year-end 2008 balance in retained earnings for TriCycle?

Reference no: EM132485229

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