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Question - Using the following information of JSM Corp:
Net Income = $95,000,000
Beginning retained earnings = $240,000,000
Dividends paid = $20,000,000
Dividends declared = $30,000,000
Required - Determine the company ending retained earnings?
a) $315,000,000
b) $305,000,000
c) $115,000,000
d) No answer text provided.
Determine the amount allocated to each product if the constant gross profit margin percentage method is used
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