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Compute the retained earnings for the current year

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Question - Given the following information about a corporation's current year activities, answer the question below:

Retained Earnings, December 31 (Prior Year............ $250,000

Cost of Goods Sold............................................. $90,000

Other Operating Expenses..................................... $54,000

Cash Dividends $30,000

Period (Inventory error)....................................... $23,000

Stock dividends $20,000

Net Income $36,000

Retained Earnings, December 31 (prior Year)............ $250,000

Compute the retained earnings for the current year?

Reference no: EM131797586

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