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Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Problem 2-13 Statement of Retained Earnings (LG2-1)
Mr. Husker’s Tuxedos Corp. began the year 2018 with $258 million in retained earnings. The firm earned net income of $34 million in 2018 and paid dividends of $8 million to its preferred stockholders and $15 million to its common stockholders.
What is the year-end 2018 balance in retained earnings for Mr. Husker’s Tuxedos? (Enter your answer in millions of dollars.)
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