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Suppose a company had 8 million net income for year 2010

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Suppose a company had $8 million net income for year 2010, and paid out dividends of $0.5 per share. The company has 10 million shares outstanding. If the company had $32 million retained earning at the end of year 2009, what is the balance of the retained earnings now (year 2010)?

Reference no: EM13566940

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