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Find retained earnings at the beginning of the year

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Reference no: EM132726851

Problem 1: At the start of the year, Acme Company had liabilities of $49,044 and capital stock of $151,095. At the end of the year, retained earnings amounted to $134,829. Net income for the year was $44,121 and $13,980 of dividends were declared and paid. Compute retained earnings at the beginning of the year.

Reference no: EM132726851

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