Compute the year-end balance of retained earnings

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Reference no: EM131300381

Benz & Jerry, Inc., showed retained earnings of $600,000 at the beginning of the fiscal year, January 01, 2015. During the year ended December 31, 2015, the company generated net income after taxes of $980,000 and paid out 42 percent of its net income as dividends. Construct a statement of retained earnings and compute the year-end balance of retained earnings for Benz & Jerry.

Reference no: EM131300381

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