What was company retained earnings at the end of the year

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Reference no: EM13951440

A company began the year with retained earnings of $1,000. Net income for the year was $250, it repaid $350 of its line of credit balance, and it paid dividends to its shareholders of $200. What was the company’s retained earnings at the end of the year?

I found formula from online which is :

+ Beginning retained earnings

+ Net income during the period

- Dividends paid

= Ending retained earnings

Reference no: EM13951440

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