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spin [16.1K]
2 years ago
12

Thermopolis, Inc. reported retained earnings of $490,953 on December 31, 2017. During the year, Thermopolis recorded net income

of $135,075 and paid dividends of $57,762. The company had no other transactions that affected retained earnings. What must retained earnings have been on December 31, 2016?
A. $ 57,762
B. $237,250
C. $413,640
D. $478,842
E. None of the above
Business
1 answer:
liberstina [14]2 years ago
8 0
Retained earning must have been C. $413,640 on December 31, 2016
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