A company had a beginning balance in retained earnings of $408,000. It had net income of $54,000 and declared and paid cash dividends of $59,000 in the current period. The ending balance in retained earnings equals:
A. $354,000.
B. $521,000.
C. $413,000.
D. $467,000.
E. $403,000.
Answer: E
Business
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