Calculate tour end-of-year balance in retained earnings

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Reference no: EM131351623

Jamaica Tours, Inc., started the year with a balance of retained earnings of $1,780 million. The company reported net income for the year of $296 million, paid dividends of $18 million to the preferred stockholders and $58 million to common stockholders.

Calculate Jamaica Tour’s end-of-year balance in retained earnings.

Reference no: EM131351623

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