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  3. xyz company had a beginning balance of $2,346,888

XYZ Company had a beginning balance of $2,346,888 in retained earnings as of 12/31/2020. During...

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Accounting

XYZ Company had a beginning balance of $2,346,888 in retained earnings as of 12/31/2020. During the year of 2020 it generated net income of $100,000. Its sales were $1,500,000 and its cash account increased by $200,000. No dividends were paid. What is the balance of Retained Earnings as of 12/31/2021?

Question 6 options:

2,346,888

2,446,888

2,546,888

3,846,888

Answer & Explanation Solved by verified expert
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