The balance of retained earnings at the beginning of the year was $475,000, and the...
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Accounting
The balance of retained earnings at the beginning of the year was $475,000, and the balance at the end of the year was $550,000. Cash dividends declared during the year were $35,000. The amount of net income for the year was
a.$80,000.
b.$110,000.
c.$515,000.
d.$75,000.
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