Question: On January 1 2011 Green Corporation started the year with
On January 1, 2011, Green Corporation started the year with a $520,000 balance in retained earnings. During 2011, the company earned net income of $89,500 and declared and paid dividends of $10,000. Also, the company received cash of $150,000 from a new issue of common stock. What is the balance in retained earnings on December 31, 2011?
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