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Golden State, Inc. had beginning retained earnings of $70,200. During the year, the company reported sales...

Golden State, Inc. had beginning retained earnings of $70,200. During the year, the company reported sales of $132,400, costs of $75,800, depreciation of $9,100, dividends of $3,500, and interest paid of $2,300. The tax rate is 21 percent. What is the retained earnings balance at the end of the year? $104,530 $102,408 $105,820 $103,390

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