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Calculates the value of retained earnings

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Reference no: EM132826957

One company had a net income of $ 1,900,000 and paid dividends of $ 20.00 per share for each of its 70,000 shares. The following year, the company had a net loss of $ 850,000 and paid no dividends.

Problem 1: Calculates the value of retained earnings that should appear in the company's statement of financial position as of December 31 of the second year.

Reference no: EM132826957

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