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How the company declared dividends of

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Problem 1: A company had a beginning balance in retained earnings of $80,000 and had net income for the year of $40,000. At the end of the year the balance in retained earnings was $100,000. The company declared dividends of:

A) $80,000.
B) $40,000.
C) $20,000.
D) none of the above.

Reference no: EM132767539

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