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Calculate the retained earnings balance at the end of year

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Reference no: EM133000775

Problem 1: A business had sales of $675,000, cost of goods sold of $423,000, operating costs of $143,000, and interest expense of $32,100. The marginal income tax rate is 13%. Calculate after-tax profit.

Select one:

a. $59,840

b. $54,390

c. $56,925

d. $66,903

e. $44,748

Problem 4: A company reported a retained earnings balance of $125,900 on last year's balance sheet. This year, the company reported a $15,600 net loss and distributed a $12,400 cash dividend. Calculate the retained earnings balance at the end of the current year.

Select one:

a. $97,900

b. $97,200

c. $98,100

d. $99,800

e. $96,800

Reference no: EM133000775

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