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What the ending balance in retained profits at december

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Reference no: EM132610261

Question 1: On 1 January 2020, Story Ltd had $60,000 of retained profits. During 2020 it earned net profit of $100,000 and declared and paid dividends of $15,000. In addition, the company issued shares during the year receiving $30,000 in cash. Therefore, the ending balance in retained profits at 31 December 2020 would be:

Select one:

a. $110,000

b. $130,000

c. $145,000

d. $175,000

e. None of the above

 

Reference no: EM132610261

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