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What is retained earnings

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Question - Company X has 100,000 shares of $10 par common stock outstanding. Each stock for $ 11.60 a few years ago. The company also has 5,000 shares of $6 par preferred stock outstanding. Each preferred stock share was sold for $10.50 a few years ago. The company holds is nothing else in the equity section of the balance sheet besides Retained Earning. If on December 31, 2017, total stockholders' equity is $ 1,442,500, what is retained earnings?

Reference no: EM132567891

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