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Determine the balance in retained earnings

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Question - The Retained Earnings account at Scrooge & Marley Ltd. had a balance of $850,000 as of Dec 31, 1844. In the following year, they had Net Income of $150,000 and Dividends of $75,000; as of Dec 31, 1845, determine the balance in Retained Earnings?

a. $775,000

b. $850,000

c. $925,000

d. $1,000,000

Reference no: EM132797911

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