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This Question: 1 pt 8 of 15 (7 complete) TMS Ca pis pus Salem Instruments had retained earnings of $345,000 at December 31, 2
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Answer #1

Answer: $475,000

Explanation

Ending Retained Earnings Calculation
$
Beginning Retained earnings     345,000.00
Add: Net income     195,000.00
Less: Dividends     (65,000.00)
Ending Retained earnings 475,000.00
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