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QUESTION
At December 31, 2007 Shorts Company had retained earnings of $2,184,000. During 2007 they issued stock for $98,000, and paid dividends of $34,000....
At December 31, 2007 Shorts Company had retained earnings of $2,184,000. During 2007 they issued stock for $98,000, and paid dividends of $34,000. Net income for 2007 was $402,000. The retained earnings balance at the beginning of 2007 was:
