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What is the amount of retained earnings at the end of year

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Reference no: EM132631357

Problem 1: The first year of operations for a company was Year 1. The net income for Year 1 was $21,500 and dividends of $12,750 were paid. In Year 2, the company reported net income of $35,500 and paid dividends of $5750. At the end of Year 1, the company had total assets of $165,000. At the end of Year 2, the company had total assets of $ $255,000.

What is the amount of retained earnings at the end of Year 2?

Select one:

A. $145,150

B. $38,500

C. $29,750

D. $135,150

Reference no: EM132631357

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