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What is the balance of retained earnings at the end

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Question - Clowns-R-Us reported the following in the statement of comprehensive income for the year ended December? 31:

Income from continuing operations before tax ?$800,000

Income tax expense ?(300,000)

Net income ?500,000

Other comprehensive income ?130,000

Comprehensive income ?600,000

During the? year, the company paid? $103,000 in dividends and purchased treasury stock with a par value of? $20,000 at a cost of? $95,000. If the balance of Retained Earnings at the beginning of the year was? $470,000, what is the balance of Retained Earnings at the end of the? year?

Reference no: EM132863762

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