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Question(s) / Instruction(s):

A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings equals:

  1. $54,625.
  2. $42,625.
  3. $11,625.
  4. $43,375.
  5. $49,000.

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