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22 November, 15:47

At the end of Year 2, retained earnings for the Baker Company was $3,500. Revenue earned by the company in Year 2 was $1,500, expenses paid during the period were $800, and dividends paid during the period were $500. Based on this information alone, retained earnings at the beginning of Year 2 was: Multiple Choice A.$2,800 B. $3.800 C.$3,700 D.$3.300

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  1. 22 November, 15:57
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    D. $3.300

    Explanation:

    Beginning Retained Earnings + Revenue - Expenses - Dividends = Ending Retained Earnings

    Beginning Retained Earnings + $1,500 - $800 - $500 = $3,500 Beginning Retained Earnings = $3,300

    Therefore the answer is D $3 300
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