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Laslow, Inc. began the year with a balance in retained earnings of $21,000 and 40,000...

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Accounting

Laslow, Inc. began the year with a balance in retained earnings of $21,000 and 40,000 shares of $1 par common stock outstanding. During the year, the company reported sales of $122,500, expenses of $101,000, and declared and paid a $0.20 per share cash dividend. How much is the balance in the Retained Earnings account at the end of the year?

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