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Which is ending retained earnings at december

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Problem 1: Comet Inc. has retained earnings of $120,000 on January 1, 2020. The fiscal year end is December 31, 2020. Throughout the year, Comet Inc. paid dividends of $32,000 and earned Net income of $123,000. The company also repurchased shares at a total of $15,000. Which of the following is ending retained earnings at December 31, 2020?

a) $226,000
b) $211,000
c) $305,000
d) $241,000

Reference no: EM132739569

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