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What amount should row report as retained earnings

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Reference no: EM132801313

Question - Selected information from the accounts of Row Co. at December 31, 20x1, follows:

Total profit since incorporation - 420,000

Total cash dividends paid - 130,000

Total value of property dividends distributed - 30,000

Excess of proceeds over cost of treasury stock sold, accounted for using the cost method - 110,000

In its December 31, 20x1, financial statements, what amount should Row report as retained earnings? Show the solution and explain.

Reference no: EM132801313

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