Kent Company had retained earnings at the beginning of the current year of $600,000. During...
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Kent Company had retained earnings at the beginning of the current year of $600,000. During the year, (1) the company earned net income of $90,000, and (2) a cash dividend of $1.20 per share was declared and distributed on the 50,000 shares of common stock outstanding. What amount of retained earnings would the company report at the end of current year? A. $600,000. B. $630,000. C. $690,000. D. $750,000.
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