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Question - Cloud Inc. had opening retained earnings of $285,000 on January 1. Below is selected end of year information:
Dividends 8,000
Total revenue 384,000
Issued common shares 89,500
Issued preferred shares 72,600
Total expenses 298,900
Repurchased common shares 53,200
What is the ending retained earnings that the company would report on the statement of changes in equity?
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