On December 31 of year 1, Acme Company had assets of $150725, liabilities of $97858,...
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Accounting
On December 31 of year 1, Acme Company had assets of $150725, liabilities of $97858, and capital stock of $30938. During year 2, Acme earned revenues of $45743 and incurred expenses of $34107. During year 2 the firm declared and paid Dividends amounting to $3024. Compute the companys retained earnings on December 31 of year 1.
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