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Calculate the retained earnings balance

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On February 1, 2010, the balance of the retained earnings account of Blue Power Corporation was $630,000. Revenues for February totaled $123,000, of which $115,000 was collected in cash. Expenses for February totaled $131,000, of which $108,000 was paid in cash. Dividends declared and paid during February were $12,000.

Required:

Calculate the retained earnings balance at February 28, 2010.

 

Reference no: EM13510356

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