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What the balance in retained earnings would be

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Problem 1: The Retained Earnings account at Scrooge & Marley Ltd. had a balance of $850,000 as of Dec 31, 1844. In the following year, they had Net Income of $150,000 and Dividends of $75,000; as of Dec 31, 1845, the balance in Retained Earnings would be

Option 1: $ 775,000
Option 2: $ 850,000
Option 3: $ 925,000
Option 4: $1,000,000

Reference no: EM132736522

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