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What amount of retained earnings reported on the december

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Reference no: EM132660975

At the beginning of the current year, X Company had assets of $600, liabilities of $300, and common stock of $100. During the current year, the company earned revenue of $750, incurred expenses of $500, and paid dividends of $100. All transactions were cash transactions.

Problem 1: The amount of retained earnings reported on the December 31 balance sheet for the current year would be

Option 1: $200

Option 2: none of the above.

Option 3: $150

Option 4: $250

Reference no: EM132660975

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