Question: LaPlace Company had retained earnings of 56 780 at the beginning
LaPlace Company had retained earnings of $56,780 at the beginning of 2013. During the year the company had total revenues of $530,000, total expenses (including taxes) of $495,000, bought property and equipment for $340,000, and paid cash dividends of $12,000. Compute LaPlace Company’s retained earnings at the end of 2013.
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