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The Ending Retained Earnings Balance of Boomer Inc

Question 71

Multiple Choice

The ending Retained Earnings balance of Boomer Inc.decreased by $1.0 million from the beginning of the year.The company declared a dividend of $5.4 million during the year.What was the net income earned during the year?


A) $7.5 million.
B) $6.4 million.
C) $4.4 million.
D) $1.0 million.

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