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Grason Corporation is preparing a budgeted balance sheet for current year. The retained earnings balance...

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Accounting

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Grason Corporation is preparing a budgeted balance sheet for current year. The retained earnings balance at December 31. of the previous year was $534.500. The current year budgeted income statement shows expected net income of $112.500. The company expects to declare dividends during the current year amounting to $40,500. The expected balance on December 31 of the current year in retained earnings on the budgeted balance sheet is: Muitiple Chorce $534.500. $606.500. $647.000 $494,000. Multiple Choice $534,500. $606.500 $647.000 $494,000 $687,500

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