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Retained earnings on balance sheet

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Pharoah Construction Company earned $404,000 during the year ended June 30, 2017. After paying out $225,794 in dividends, the balance went into retained earnings. If the firm's total retained earnings were $844,234 at the end of fiscal year 2017, what were the retained earnings on its balance sheet on July 1, 2016?

Balance of retained earnings, July 1, 2016

Reference no: EM133004063

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