A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of $56,250 in the current period. The ending balance in retained earnings equals:
A. $490,000.
B. $426,250.
C. $116,250.
D. $546,250.
E. $433,750.
Answer: E
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Indicate whether the statement is true or false.
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Indicate whether the statement is true or false