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Question - Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $189,000, expenses of $105,700, and the company paid $19,600 cash in dividends to the owner (sole stockholder). The retained earnings account before closing had a balance of $301,000. The ending retained earnings balance after closing is:

$189,000

$63,700

$83,300

$384,300

$364,700

Accounting Basics, Accounting

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