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Problem:

Cindy's Crafts had beginning retained earnings of $51,200. During the year, the company reported sales of $112,400, costs of $75,800, depreciation of $9,100, dividends of $1,500, and interest paid of $2,300. The tax rate is 34 percent.

Requirement:

Question 1: What is the retained earnings balance at the end of the year? Explain in detail and give step by step elucidation.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91146765

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