A firm began the year with retained earnings of 1000 net, Financial Management

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A firm began the year with retained earnings of 1000 net

A firm began the year with retained earnings of $1,000. Net income for the year was $250, it repaid $350 of its line of credit balance, and it paid dividends to its shareholders of $200. What was the company’s retained earnings at the end of the year?

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Financial Management: A firm began the year with retained earnings of 1000 net

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Financial Management: A firm began the year with retained earnings of 1000 net

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