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What would transformers report as the ending balance

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Question - For the year ended December 31, 2012, Transformers Inc. reported the following:

Net income $120,000

Preferred dividends declared 20,000

Common dividend declared 4,000

Unrealized holding loss, net of tax 2,000

Retained earnings, beginning balance 160,000

Common stock 80,000

Accumulated Other Comprehensive Income,?Beginning Balance 10,000

What would Transformers report as the ending balance of Retained Earnings?

A) $256,000

B) $254,000

C) $266,000

D) $278,000

Reference no: EM131792867

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