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Find the amount of retained earnings available

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Reference no: EM132980030

Question - At the beginning of 2021, Swift Company had retained earnings of $680,000. During the year, the company reported net income of $170,000, sold treasury stock at a "gain" of $39,000, declared a cash dividend of $102,000, and declared and issued a small stock dividend of 3,000 shares ($3 par value) when the fair value of the stock was $20 per share. Find the amount of retained earnings available for dividends at the end of 2021?

Reference no: EM132980030

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