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What was the amount of retained earnings on december

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Question - Phillip's Camera Store had a Retained Earnings balance of $1,000 on January 1, 2010. For the year 2010, sales were $10,500 and expenses were $6,500. Cash dividends of $1,500 were paid on December 15, 2010. What was the amount of Retained Earnings on December 31, 2010?

A. $4,000.

B. $5,000.

C. $3,500.

D. $2,500

Reference no: EM132054619

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