The retained earnings balance was 22 900 on january 1 net, Accounting Basics

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The retained earnings balance was 22 900 on january 1 net

Problem

The Retained Earnings balance was $22, 900 on January 1. Net income for the year was $18, 100. If Retained Earnings had a credit balance of $23, 800 after closing entries were made for the year, and if additional stock of $5, 200 was issued during the year, what was the amount of dividends declared during the year?

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Accounting Basics: The retained earnings balance was 22 900 on january 1 net

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