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Find the retained earnings and the net income given this information at the end of the year. Accounts Receivablev$23,000, Accounts Payablev$15,000 , Cash $8,000, Common Stock $110,000, Supplies $9,000 , and Equipment $138,000.
A. Please calculate the balance in retained Earnings at the year end.
B. if the amount in Retained Earnings at the beginning of the year was $30,000...and dividends were paid out in the amount of $12,000.....please calculate Net Income for the year.
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