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Question(s) / Instruction(s):

 

The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

  Retained earnings balance at the beginning of the year                               $ 159,000 

  Cash dividends declared for the year                                                    49,000 

  Proceeds from the sale of equipment                                                  84,000 

  Gain on the sale of equipment                                                                                7,600 

  Cash dividends payable at the beginning of the year                     21,000 

  Cash dividends payable at the end of the year                                 43,600 

  Net income for the year                                                                             95,000 

What is the ending balance for retained earnings?

a)            $205,000.

b)            $282,000.

c)            $254,000.

d)            $180,000.

e)            $259,400.

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