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Tiffin Company Had Retained Earnings of $50,000 at the End

Question 28

Multiple Choice

Tiffin Company had retained earnings of $50,000 at the end of last year.For the current year,income was $20,000 and dividends $15,000.What is the balance in retained earnings at the end of the current year?


A) $85,000
B) $45,000
C) $55,000
D) $60,000
E) none of the answers are correct

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