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What is the retained earnings balance at the end of year

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Reference no: EM132513481

Question 1: Lamp Co. is established on January 1, 2015. It has 25,000 authorized shares and each common share has a par value of $10. The firm issues 15,000 shares at $12 per share on January 2, 2015 and earns net income of $230,000 during year 2015. What is the retained earnings balance at the end of year 2015?

Reference no: EM132513481

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