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Dividend declared by colonial furniture in 2019

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Colonial Furniture's net profits before taxes for 2019 totaled $354,000. The company's total retained earnings were $338,000 for 2018 year-end and $389,000 for 2019 year-end. Colonial is subject to a 21 percent tax rate. What was the cash dividend declared by Colonial Furniture in 2019? (Show all calculations for full credit.)

Reference no: EM132466230

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