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Business, 18.03.2021 01:40 rachelvasky9

At the beginning of the current year, Elite Corporation had 190,000 shares of $1 par common stock outstanding and had retained earnings of $4,700,000. During the year, the company earned $1,665,000, declared a 10% stock dividend when the price of stock was $25 per share, and paid a year-end cash dividend of $4 per share. (The cash dividend was paid after the stock dividend had been distributed.) What was Elite Corporation's retained earnings at the end of the year

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At the beginning of the current year, Elite Corporation had 190,000 shares of $1 par common stock ou...
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