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Find the ending balance in retained earnings equals

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Problem 1: A company had a beginning balance in retained earnings of $420,000. It had net income of $60,000 and paid out cash dividends of $65,000 in the current period. The ending balance in retained earnings equals:

Option 1: $545,00

Option 2: $425,00

Option 3: $485,00

Option 4: $360,00

Option 5: $415,00

Reference no: EM132725096

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