The firm in Practice Problem 17 had retained earnings of $5,000 at the beginning of the year.

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The firm in Practice Problem 17 had retained earnings of $5,000 at the beginning of the year. Its net income for the year was $7,500, and it paid out $4,000 in dividends. What are its retained earnings at the end of the year?

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Introduction To Corporate Finance

ISBN: 9781118300763

3rd Edition

Authors: Laurence Booth, Sean Cleary

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