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Q1) Suppose that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. In the year, a cash dividend of $140,000 was paid.

1. find out the net income for the year.

2. Suppose that revenues for the year were $920,000. find out expenses incurred for the year.

Accounting Basics, Accounting

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