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Problem - Computation of Retained Earnings
The following information has been taken from the ledger accounts of Sampras Corporation.
Total income since incorporation $287,000
Total cash dividends paid 60,000
Total value of stock dividends distributed 40,000
Gains on treasury stock transactions 18,000
Unamortized discount on bonds payable 32,000
Instructions - Determine the current balance of retained earnings.
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