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What should be the retained earnings amount on the year

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Reference no: EM132496326

Point 1: Bigco's balance sheet one year ago indicated retained earnings of $450 million. This year, Bigco's net income was $35 million. It paid its preferred shareholders a dividend of $5 million and paid its common shareholders a regular dividend of $6 million, along with a special one-time dividend of $10 million.

Question 1: What should be the retained earnings amount on this year's balance sheet?

Reference no: EM132496326

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